PreparED Study Materials
ECON 2023: 2023 473055
School: University of Central Florida
Number of Notes and Study Guides Available: 1
Study Guides
Videos
Profit-Maximizing in Competitive Markets: Unraveling P=MC & Its Impact
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Discover the power of the profit-maximizing rule in perfectly competitive markets. Unearth how setting price equal to marginal cost optimizes consumer and producer benefits. Grasp the significance of this rule for societal resource utilization.
Price Effect in Economics: Navigating Income & Substitution Dynamics
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Explore the nuances of the price effect in economics, focusing on the income and substitution effects. Understand through real-life scenarios how these phenomena influence consumer spending patterns. Gain insights into the intricate dynamics of consumer responses to price shifts.
Price Elasticity: Mid-Point Method & Its Practical Significance
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Grasp the essentials of price elasticity of demand through various calculation methods. Dive deep into the unique and consistent mid-point method, understanding its relevance in fluctuating markets. Learn its practical application in analyzing market dynamics.
Unpacking Long-Run Growth: The Pivotal Role of Rising Productivity
Want To Learn More? To watch the entire video and ALL of the videos in the series:
Unravel the complexities of long-run economic growth and its driving factors. Discover why rising productivity stands out as the cornerstone of sustainable economic expansion. Understand the role of various elements in shaping a nation's economic trajectory.
Explaining Economic Logic of Purchasing-Power Parity
Want To Learn More? To watch the entire video and ALL of the videos in the series:
This video explains the theory of Purchasing Power Parity (PPP) in economics, emphasizing how it relies on the "law of one price" and illustrating how exchange rates should adjust to equalize purchasing power between nations in the long run. It also demonstrates how price disparities for products like iPhones can lead to currency exchange rate adjustments and eventually equalized prices.
Storm Effects on Factor Markets: Wages and Capital Renta
Want To Learn More? To watch the entire video and ALL of the videos in the series:
In the scenario presented, a ferocious storm causes damage to multiple factories, impacting the stock of capital. This, in turn, has consequences for factors in the market, affecting both wages and the rental price of capital.
Textbook Solutions (0)
Top Selling Study Tools
Principles of macroeconomics (Economics)
ECON 2013
University of Central Florida
3 pages | Fall 2015