Consumer surplus is a measure of how much money a consumer would need to be given, in order to be just willing to give up their entire consumption of a particular good. Consumer surplus is approximately the area behind the demand curve. The change in consumer surplus following aprice change is illustrated in the second graph

1、 On this area of the sea, the pandas like to drink tea with peas in soda.在 海里的这个地区，熊猫们喜欢就着苏打碗豆喝茶。 2、 And the Oceanian militias like to go to cafeteria via the peninsula with a formula of dramas.而大洋州的民兵则喜欢经过半岛，带着编剧本的公式上餐厅去

The vast majority of games of interest in economics, finance, political economy etc. involve some form of payoff uncertainty. A simple but interesting example is provided by auctions: an object is offered for sale, and individuals are required to submit their bids in sealed envelopes. The object is then allocated to the highest bidder at a price which depends on every bid, according to some prespecified rule (e.g. \first-price\ or \second-price\rule). In

Introduction The purpose of this lecture is to help you familiarize with the workings of sequential equi- librium and \sequential equilibrium lite, i.e. perfect Bayesian equilibrium. The main focus is the \reputation\ result of Kreps and Wilson(1982). You should refer to OR for details and definitions: I am following the textbook quite closely. of the game in which an incumbent faces a sequence of K (potential) entrants. It is clear that, in the subgame in which the last entrant gets a chance to play, the incumbent will

(Harvard University and NBER) October 1, 2002 Abstract There are two dierent types of media bias. One bias, which we refer to as ideology, re ects a news outlet's desire to aect reader opinions in a particular direction. The second bias, which we refer to as spin

Introduction [Again, by and large, I will follow OR, Chap. 8, so I will keep these notes to a minimum. Review of key definitions Recall our three payoff aggregation criteria: discounting, i.e (u2)≥1>(2 (also recall that the payoff profile corresponding to a stream (ut)is taken to be(1 8)2t18t-u(a)); limit of means

Give the floor to 请…发言 It is a great pleasure for me to我很荣幸… Relevant issues 相关问题 Updated research research result 最新的调查结果 Attach the importance to 对…给予重视 Lead-edge technologies领先技术 Minister Counselor公使

The expressed purpose of the Pesticide Analytical Manual is to publish analytical methodology used by the FDA in enforcing pesticide tolerances. To understand FDA’s application of methodology published in the manual, it is important to

Since 15th September 2002, one of ITOPF's technical team has been working with the South African authorities to deal with pollution issues arising from the grounding of the ro-ro vessel, JOLLY RUBINO (29,119 GT, 1978 built, Italian flag) . Our role has been to provide technical advice to all parties involved with the pollution response, and has involved regular overflights and shoreline inspections, as well as meetings with all the relevant parties

6.5 Cleaning the Comyn oil/water Separater To clean out the separator ensure that all oil possible has been drawn off through the oil recovery valve and scum valve, and that the separator is full of water. Turn on steam to heating coil; also steaming out connection, and allow the separator to become thoroughly hot