New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Microeconomics - Day 2, 2.1-2.3

by: Sierra Wollen

Microeconomics - Day 2, 2.1-2.3

Marketplace > University of Washington > Economcs > Microeconomics Day 2 2 1 2 3
Sierra Wollen


Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Covers day 2 of lecture and sections 2.1-2.3 in the text. Main ideas: postulates of behavior, marginal value, consumer surplus.
Economics, UW, University of Washington, consumer surplus, marginal value, cost, value
13 ?




Popular in Course

Popular in Economcs

This 1 page Reader was uploaded by Sierra Wollen on Tuesday April 15, 2014. The Reader belongs to a course at University of Washington taught by a professor in Fall. Since its upload, it has received 137 views.


Reviews for Microeconomics - Day 2, 2.1-2.3


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 04/15/14
ECON 200 Week 1 Day 2 43 POSTULATES OF BEHAVIOR TOTAL VALUE Postulates of Behavior 2123 Peo le have 2 t 3 People one good for another a Whatever we want not need we can 1 substitute 4 Can t measure how much someone likes a good only how much they value a good 2 Amount consumer is willing and able to give up of other goods and services in order to consume and additional unit of good X 0 Variety is the spice of life o EX It is undesirable for Christmas and birthday to be on same day because the marginal value of your birthday decreases due to Christmas festivities Amount person would give up of other goods services to have all of good X rather than none at all EX MV ofjeans Quantity MV TV 1 50 50 40 90 30 120 20 140 10 150 ONUIgtUJl O 150 If price of jeans is 30 she will buy 3 pairs NET GAIN I CONSUMER SURPLUS difference between What consumer is willing to pay vs What they actually forgo total expenditure TEQP


Buy Material

Are you sure you want to buy this material for

13 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Anthony Lee UC Santa Barbara

"I bought an awesome study guide, which helped me get an A in my Math 34B class this quarter!"

Jim McGreen Ohio University

"Knowing I can count on the Elite Notetaker in my class allows me to focus on what the professor is saying instead of just scribbling notes the whole time and falling behind."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.