"i bi dgsh Hel! s a 50h 2h Lconomacs (Calee Covicutan) "Economics is a Shdy irs 4 vatichy Systhins mee ahicatd b . a of pe Sconce. weongusers Wl pu digi! tueedss 4 Cansuintin- gs the Scien which + fs fos Bop Liswel Rolbiw “Feenomi Studia tumeg Avhaviowe a aii betucen ads and > Fronomics taps moivtain ‘rlance where cawuitth ton maxim . ‘Perefil ote binidid wesnureoes Checterstics 94 Robbins Definition 1 Cabeuéed Node TT Gis Scaee Meons On a nee wr Veialin to obo dl - To u “ ole - to undlrs iss -Trbwbm afred vote Se Econ mics ® Micreecenonies- shite the spot axon of eeanenes BA a aidviduode a eller gsorp bbe business fort f fousotstth 6) Nacoeztni ceemonice “The faim: macro! ts . ured fy deok sonethng pa ok oxen valor fo beng detailed or specific aawite chute he esoromy Of vatin 22 a Uhlje thes f Econ emics = reach ty consents hed soaks | Systeots ithe Mmakry ond how at werke , fos Resihg Feeneaues > As abp Undsubed “bolaws 2 Of julgnants « Se describe: What Suits Q Nase Eevesmes~ fy abbstoch eamwics Het — onalyzes uta, of ecansmic | Bahevigur, Creluates thom ot seed & be pretcaibe coumse! ef ota +. ’ dx dacythe phnins y tor 9 or§ Mey (3) Gercridlye Ecorente Ginslatin pacific Eee” ro Fackoss of Production v (F) Lond Qi) Spee (ied See I Eades Jerncusestio mp cae prifit |= Drone node best ablocradie gaesificed Got exhrewed * ae & dacisisa crahig > per 4 Cortbinshin ek i Sheng hp _ produced with Ho exch wosoueces. 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We dative Marked: dnd Cusve fav jag vidual dumerd curves usve ust pt Fyery individued has Sthiate Spee - wandiduk ¢ with ssp ~ peice, lasket cero Ciove - Sum of antviduak dbmond a Suiply in PRedck [Grlpet_ Maichets wif te mace Sinet He. > J} prie ould ‘be ere, Supply ve will gst te ed ait > Sup Schebde — Table, SA divect wont betionen pie fad suppbid: law ef Sobply - MR shows divect fer pelatinshp betwen peo on gly of * ee eg ae te ™ 3 Shi Su we pu ow ¥* conditions onal Cw dlp oor Be Sut ef an ft ™ Nae Si oo a gh fy cll ren oatMo bel fq i iby son > Gusdlly supplid = Qhorte DR het Ga eqpilibewee , these ia M0 stendrey Tn pric b chy * bhay Subbly ong dauroad Cove shit; ke expil ee, qonty 6” EL nerrertl Nad fs lal? Lows ef dumend newer Speaks cdyal extort & which de dionmdsd ill iacwente O% docnense «50, Oe corespt {ebaivm pas quently ok dastoty was dnbrodoced ~ Elaliily 2 Uh owe 6 Cloge bon woul 4 sk in es AM ele abo rnnndiofe _enetirs My the: ode uthich “Hou. 75 heege. ‘8 questi demerd . % BA «I Cla of fost B= 728" " . GAs Teo of Elatuly of Demand ‘(2 Tye) a. bie Elatoty i a. Dacre Elaity cw 3 Coos fice Flach ef Bernd 9%” arcs A) fie Flakaly Ooed — 4 fie Cuba a tnd = “cha 3 ! “deal “| “stg = an — , Raye fue Oo b°. Che Cee Ebs4)Typu ¢¢ Elostaty 7 qoobhy asmondid 2 Ges othy Unelashe Demand. Deriand ~ ts xeuto “f ° chorge to price > ferprty Flask Dermaad “When Velie of 68 & paabet seeete Conroe, the quahty if domead Reogs a) Jal Sealy « hh ths, Bian ely the qpoaliky len b zero en 4} pee we oe L Le, Gendt Demardte! buon fr Danarded D (al eeelly Sette Ded Pets Sie 8 Ulan, Ebb - Ui Hat Sages iy re pice. , a FO: Th a2 nen aloo ‘[ort8)/2. = o-S y!00 = SKA (5/2{Ota PENA = toe A eg eee duc tty dirtend nak sense We TeALES ia Plastic Demed , dt Price Sulls , cad So “Teta Prune Fa Dohake Deynod , GG foice Sells, Sone demand Poa — snc yes dyted weuenue HCwenset, Trevese in hice Tole | Revenue Fiche Ady Ehahity of -Demnd Avsilbil Subd ates . . 3 ied bby ipl (syed little ant of Mendy ) 63) The “Tie. Dinan (ouch. offte 8 lang Of-spo) GF) Tnesne Ela Of Demand Mreomne Eoako femal = gcc T) Crus rice Elosbi Cog fie Bartily of = nay in quebiy. of Y bord Derand % Chargs. ie pike of Xa fprin i8| inp ff dng: “a Ch cy ect cCanvorded jwucatment, + Ben & 4% | Constraint = ¢humnen beings are. alucys wale si He Dionstadion Wid a chink an lente 78 budget ches 1 £ . | 4 Budget Line — Bu tia the combination of yt devices which i purchased wth exiatry eae Ay Ban Bodged- (rx Sinv! . c- Oa Budget sar t id D= Net spendey Gnd X-" | to V- © 1p" = ‘ E- Mow tar Melt balgetF quadien of Bulged Gag tsout Reem + Pye ake, P- Pas x Poabehond brncarnt Y Kyyabte of x probed gis by cngunbse Utility - The abtfacten Or Suulahd a { saltfactin gained by product Bog (ihity — The addibanal ‘iso wim pate ge Uae ef oa mow unt of ot pos tice Es Diminishi al Uhh coat vib “tn J more We Congund a pale product, mage ubhy a te product qecweases » ke moavoed in Ten of > cabal Apoch~ Ubi on rusnbore soo ublily iy BE Be seas, whith 1s Conynd, On maxien! cols ed . 9 Taf oe om nif pent he. peepemnce gh to eo Som a lagi UBM 4% of Osler Curve = ‘ig mn oyCordial = preach | anak ippeeach oft bo measured a. U Can be adored A van verbo in ty bowat ped ailConsumax Choice _— cams ( wah ir Sjack ho hos bimited Tacha | 7 cmd (Beet un) bash ~> Tho basic pein i cnn Gp % ane HK i Cuxne %& ® a te at ad hb 2? Ty Dd Cusve Can Abie snboscts ‘with mal bales Six Exflind Why it at poteible oft,atone Sy thie BO > hn How 6 a Chage 7 pee Price Geet dap of pet» cas © a tm Pare, fp * sideprele en 7 cc hw th at fall co » Tec Shows, dh » lee of ‘reane He toma cot = Newel rend aoe Gh Loop) ~ve thane het = Dpsioe ged (x cal) Nes.lee = Price Eee* wtopredd by Price, Gassmpin Sarva (Pec an Goad Xs Nee Ga ~ v "E, touches Fa tut iy 4 “tore pee Eb B= WE, +» Es, Cmsumer con ve Ba I eX i Bae le + Neusat Ey E (as belgt bre chase he & Ki) ® colt Subchtuban Tis “Aefps due to chotys jy velove peice. ; fin SK ! Sy eam ce oy Oe Oe felKiba ‘ ~ fre X, 6°. > Spon Gol es acd of . So, Decame Ypeet VE Prke chee sain Her + (sen TS of sisi hereatss , ‘budget Drache A ‘ New, Anon Sdn ; AC, 4 AC ad ch th opie good , bee iy of X now alls , WS charge Xa 6 Xz wich B Ve % ella “incaoe. effectUnit ‘oh: Preduiin Fined (=> Pyadicton & Nothing “bud velatioshp: behusenn snbut “Ve basicly we oy cophel audput » Wher we are Can hg put 6 cout 4 he. ee Production “‘nvelwes — Capital, epuipmad , lober. £ Uood sto gudpct Coord, 4 Sowa} Goods are -fouchahle ule Sepuicas, Coonok- bn bushel 4 > Eranoic zieney — ‘Cat of, preduebn is, wedtey Technolatical efficiency — (Ishq ~Hechoolegy \ We Gan hares producti at sek ser Sixed, : 2 Mini mice cot Of peed MiB) a" Maxinize culpa fe of abs, —< Fism Prédactin Finan : x» a technical selehen «which connocts Saedoe ® yw ‘inputs ond gutpude - nes [g=$ (a < = he ae a - Lys Lord , 5& ke Gopiteh (K)4 babe (Qf te rackeer ' [a= $C)=a Short Uj an : ; > Chong hath — Sixed Sacto ( tl 4 variable. Seoet95 (hy Reoduettin Table i ~) Reece ‘This table lists Cpstmnoned alt alterrafiee pudputs which he Can achieie wth gue enpule sR fe Shot Run 4 Ly Run Product Furction = Shert- Run = low of \ariahhe = law of Dinlaishiy f Reohertian Rotunn | ~ long Run = Lows, oy Rohmns tr Scale Shet- Ron Charge 7n Producti — Aosta Ly - fe eseastS tn a wapid ode ab we ‘newende Qahore (by Ropry | 4 rar 1b rosbek) “hut * divicis hag a4 peoke Surttiss 7 capi we qe eo kY 10 30 48 63 30— ea SS & a aC). ee re me — Ruri Cheege: an Produedtan ~ Bd ae MR Clogs beth oboe capil, output — Changas ~ [Take Product = Total gut of prroduechtr b aon prodhiction Tolle of Tope =~ Magia Predaed= ia quanity whine & PditoreL ie wil irpet wed — Qyewense 4A ettfput obtaud by adding A a ot a bor ut oh othr nes one yerraini SOME. rafts of Low of Disy Bere cc Helps dy word 22 babowr — Gyan Uo efftony off foodvetin Ty vada in carte , pinlwizeyof Dinis +o # exlortitally op ding = + a ty nk seabob = Pssumpases — @] Gast “Vecknolagy (iy AM (ghours ere hooespates q of eps! {oxedichu (il) Anpat. povee Wyo constat Me > AP AP is orshy me < APO AP as Sabliy MP = AP — wm Ata mroxiau' ad mez OO | TP ap maniaized gone pe Se . At Sh a. SHoge 2 MN pono nt ied A uel ete ee : M ae rd +p doebha — [Pp 4neweaas ok = Cras whoo MP 1 eae wake v¢ O _ MP beeaorss ~ 1 *¥ meee zed Aagesive AP. oanbiuas ty deckingShp” redrnbtng Fach additbero® Vari abl arpcot 6 Will shit produce addibioral Si Bedies _ me sane MP as moe than AP, AP aise : alban me 4 AP become epal, AP is af He Aightsd © afin MP becarts fine thr AP, AP Salt = s Curve of MP as stafer ton Ap ! | * AP fll yemaina Ve Auch MP hesesenes” — Ste Auldy 1 boon : ° Tots ne Hewenss f Bacarna ecsiamSs le” P es Run Peedtin dt pole set i ae . sgh - — Neate Slop — Qwex 4 ou — Comet beer 2. Const Kotisn to, Scale.1-5 Sloge of Teospant __ Clore { — fhso Ria Marg nal Rul of * [leurs = | ia bt fe Tichiol Sobek, | dx/dR bs (kK) bot 4 Lsscat Line a kl hav ne_mineg “Ke Pobore ® | able Spend gate [C= we): WD | . G ys wage Rake | : — foie. of cael sed Cly $ - wl | (Sat ° ; vr ), Le Neperd Lirs a - bg Pi ey Assque fi " (ity Step ae x) 4) ts I 4 | Sth Hee Sheath ‘be Ca fh - - NOX OD Pay{ Qj §= 6L- OL? me =)ab~ LQG ~ me= O | (a) “To. Maximize gupat (-°) | gQe- 2.aL= O > fa (w-O7? » L=0 tLe 10 sp ae ahaa 3. (ny N-P = PRE oR” ~-24L= 0 To massa ze ‘cre | ‘ ¢ C} Af - ae 6- ost +0 TO ne eg fix 3 So ae ate iat +36 k a) 1x3 436K (dye Yak a. eget 4 bey\S Ss Tet 2: Exonamcs [Asudesh — eb Cloutaty of Onrmed Poon Given, = 20- ar Multi price = Re 4] bg Give , Pie also anerenses ty 20 Yo &y 2-2 af Bokeh - 20 ee pate & Y oh Demand op chaye dln price afx ~ L£.de Q af = -ay oF ao-aP give a 4 Vel oh P as clube of 2 ~ 2% } Damed 20- AX) 2-8 -fo =e Qo- 4 i + Clasbuty of, duro B Yo tj d{ | : , | : | | g Tt be * city = -2(2-5} (isos) ay ee / Gal Giva, fe aS ox. 2 of de | We how Chatty of Donon “2. dx 20-aP-f = - apap 2 -aP (it. BD-RE PT Q0-ap- PR” av -a(a5)~ [as] Seu " ee =-Q- x) Elostely of Bed = DX (py oh Now , Caaciidy wall” Ea ore 220 ped oc ht -a = -at (1+) “20 -af— p> A = 20-foP+P Er RP-aP” > SPS HyP- if-a9= 08 5 so fe 4 ~ 0 ' Nos, Done P= 20- Q70-@)* = Nee.