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The Economics of Property Law – Coase Law
Here is an article that deals with Coase laws and the economics of property law. The lack of defined property...
Utility Functions (Mathematical Representation of Preference)
The following section from DiscussEconomics on microeconomics and preferences discusses the mathematical representation of preference using utility functions. Using utility...
Introduction to Microeconomics Cost Formulas
Let’s carry on from our introduction into microeconomics with a focus now on how firm’s costs vary with output in...
Microeconmics: The Monopoly
Let’s start our introduction to monopolies by offering a definition: An industry comprising of only one firm. Examples include utility...
Corner Solution – Perfect Substitutes: Demand Theory
Continuing on with demand theory. Previously we discussed the Cobb Douglas function, now we move into perfect substitutes and the...
Microeconomics: Competitive Market Behavior
Competitive Behaviour vs. Competitive Market Structure Here are some key terms to begin discussing and understanding competitive behaviors and market...
How Producers act in the Long Run
Producers have Long Run Costs Recall that: > In the short run some costs are fixed. > In the long...
Microeconomics: Profit Maximizing Output
Looking for introductory information about profit maximizing output for producers (firms)? Look no further than DiscussEconomics’ microeconomics article section for...