Isenberg School of Management
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This 1 page One Day of Notes was uploaded by Janice Beach on Friday January 30, 2015. The One Day of Notes belongs to ECON203-01 at University of Massachusetts taught by D.W.Katzner in Winter2015. Since its upload, it has received 99 views.
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You're awesome! I'll be using your notes for sure moving forward :D
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Date Created: 01/30/15
12115 Note Microeconomics deals with the behavior of individual economic units such as consumers rms workers and inverstors As resources are limited it is about ways to make the most of these limit allocation of scare resources Use model to help understanding the reality The reality is too complex and difficult to understand however the model has enough in common with reality so we can understand more by studying the model Walrasion Theory of Market Behavior Assumption 0 Rational Behavior Optimising Complete Information 0 Perfectly Competitive Market market has many seller and buyer that no single seller or buyer has a signi cant impact on price Equirium between Demand and Supply 0 Preferences and tech are xed
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