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Environmental Economics

by: Dr. Janiya Bernier

Environmental Economics ECON C125

Dr. Janiya Bernier

GPA 3.77


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Class Notes
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This 4 page Class Notes was uploaded by Dr. Janiya Bernier on Thursday October 22, 2015. The Class Notes belongs to ECON C125 at University of California - Berkeley taught by Staff in Fall. Since its upload, it has received 25 views. For similar materials see /class/226710/econ-c125-university-of-california-berkeley in Economcs at University of California - Berkeley.


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Date Created: 10/22/15
EEP 101ECON 125 January 30Lh 2006 Section 2 GSI Kristin Kiesel Some more logistics Registrations Wednesday sections were canceled last week If you have not done so please reregister for the Monday or Friday sections If the Section you are trying to register is full please also check the cross reference eg EEP 101 or ECON C125 If the Friday times work for you as well Friday sections are signi cantly less crowded and you might want to check them out if you prefer smaller class size O ice hours My office hours for the rest of the semester will be in room Giannini 308 on Tuesday 1112 Friday 910 If these times don t work for you keep in mind that you could also use Anin s office hours in Giannini 325 on Wed 1011 Fri 1011 If neither of this works for you please contact me Section email list I need your permission to use your email address to create a section email list that allows me to contact you with section related info only eg typos clarifications etc If you don t want to be contacted this way please let me know Web page And once more additional class and section information such as handouts can be found on my web page httpareberkeleyedukiesel under construction EEP 101ECON 125 January 30Lh 2006 Section 2 GSI Kristin Kiesel Welfare under Monopsony Numerical example now you are the only buyer in the market for Demand Qd100 l3P Inverse demand price Supply 204QS Relevant marginal factor cost marginal outlay Your objective Summary Monopolist under sells and over prices Monopsonist under buys and under prices EEP 101ECON 125 January 30Lh 2006 Section 2 GSI Kristin Kiesel Review and Discourse Price Elasticity of Demand Igt Price elasticity of demand Responsiveness of quantity demanded to a change in price M A 9 AP 0o Mange 23971 gummy j 0o Mange 23971 prim P 2 r 3P r nigtl demand is inkl demand is niltl demand is Comparison of demand curves Monopoly case midpoint rule P P Vertical demand is Horizontal demand is EEP 101ECON 125 January 30Lh 2006 Section 2 GSI Kristin Kiesel Chapter 4 Negative externalities and Policy Igt Externalities A consumer or rm might be directly affected by the action of another agent in the economy Production eXtemality affects productivity Consumption extemality affects welfare from last time EXtemalities are type of market failure in that prices in that market do not re ect the true marginal costs andor marginal benefits associated with the goods and services traded Examples Production externalities P Msc Interest groups MPC Consumers Producers Government Environment MEC D 0 Socially optimal outcome Competitive market outcome


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