williamcfritsch
williamcfritsch

Microeconomics

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50.00 USD /single lesson (60 min.)
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nick williamcfritsch
country United States
languages English, German, Greek, Latin
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About me

Microeconomics: Lessons in microeconomics cover the preliminaries (themes of microeconomics, theories and models, positive versus normative analysis, what is a market, competitive versus noncompetitive markets, market price), real versus nominal prices, basics of supply and demand (the supply curve, the demand curve), market equilibrium, elasticities of supply and demand, predicting the effects of changing market conditions, price controls and government intervention, producers and consumers and competitive markets (consumer preferences, indifference curves, indifference maps, marginal rule of substitution, perfect substitutes and complements, budgets, marginal utility, consumer choice, cost-of-living indexes), individual and market demand (price changes, the individual demand curve, normal versus inferior goods, Engle curves, substitutes and complements), consumer surplus, utility max., Lagrange multipliers, the equal marginal principle, marginal rate of substitution, marginal utility of income; choice under uncertainty (risk, variability, decision making, preferences toward risk, reducing risk, assets, asset returns, production, profile max., competitive supply, market power- - monopoly and monopsony, game theory, markets for factor inputs, investment, time , and capital markets, general equilibrium and economic efficiency, externalities and public goods, and regressions.