Content Lotteries and expected utility Risk aversion Metric Subjective probability theory

Cost Minimization Content Definitions Properties of cost function WACM Some forms of cost functions

profit maximization Content: Some definition Isoprofit curve Demand function and it's properties supply function and it's properties Profit function and it's properties

Summary textbook Varian, Hal R, 1992, Microeconomics Analysis, 3rd ed Mas-Colella m Whinston and j, green 1995, microeconomics Theory assignments

Content Competitive equilibrium Local analysis Omplete compete market Monopoly

Content Public goods Subscription Efficient provision of public goods Public choice EXternality What's externality? How to solute it? What's the efficient condition with externality

Content The“core” Uniqueness of equilibrium Stability of equilibrium Welfare

Content Pure exchange system The existence of Walrasian equilibrium The first theorem of welfare economics The second theorem of welfare economics Exchange with production

浙江工业大学：《微观经济学》课程教学资源（PPT课件）06 成本

5. Oligopoly Oligopoly: Small number of firms: Firms depend on each other. Identical products: Firms jointly face a downward sloping industry demand No entry: Long-run positive profits are possible