Agenda - M Sept.23 - Equilibrium Price
Source D. Ohmans
Date 02/09/23/10:44

The Market

1) the Diamond-Water Paradox: value and price

2) Equilibrium: stability and efficiency

3) Grid 7: the auction model vs. free-market capitalism

4) Circular Flow: goods, labor, capital

5) Limitations I: assumptions, inequality and purposes

6) Limitations II: monopoly, externalities and public goods

7) Limitations III: inelastic supply, labor as disutility, wealth and income

8) Java applets website

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