Exchange Economies (revisited) No production, only endowments,so no description of how resources are converted to consumables. General equilibrium: all markets clear simultaneously. 1st and 2nd Fundamental Theorems of Welfare Economics

一、1(5分)当边际产量递减时,规模报酬也一定递减

Revealed Preference Analysis Suppose we observe the demands (consumption choices) that a consumer makes for different budgets. This reveals information about the consumer's preferences. We can use this information to

Structure Describing technologies Production set or technology set Production function Isoquant Marginal product Returns to scale Technical rate of substitution well- behaved technologies Long run and short run

面向全球化经济的高等工程教育发展战略——“做中学”、产学合作与国际化

Structure Types of cost curves Fixed, variable and total cost functions Average fixed, average variable and average cost functions Marginal cost functions Marginal and variable cost functions Marginal and average cost functions Short run and long run cost curves

Structure on -collusive- moves Simultaneous moves Quantity competition -Cournot model Price competition- Bertrand model Sequential moves Quantity leadership- Stakelberg model Price leadership Collusion

Structure Definition Consumption externality Production externality The tragedy of commons

Mission of Economists Gary Becker: believe that the main purpose of economics is to understand and help to alleviate poverty\ Who are the poor? How can one help?

Structure What causes monopoly Profit-maximizing- choices of monopoly Markup pricing Taxing monopoly Inefficiency of monopoly Natural monopoly(自然垄断)