Section+1


 * Section 1: Must be finished by Sep. 19 11PM**

1 Value 2 marginal analysis: Marginal Benefit including marginal revenue and Marginal cost b (B) marginal analysis: Marginal Benefit including marginal revenue and Marginal cost 3 Demand include what is a demand curve and what shifts a demand curve 4 Supply include what is a supply curve and what shifts a supply curve 5 Supply and Demand b (B) Supply and Demand 6 Taxes including ad valorem taxes and excise taxes 7 Prices including full economic price 8 Price ceiling 9 Price floor 10 Using regression analysis to derive a demand curve, also t-stats, R-squaredt-stats, F-stat, R-squared, adjusted R-square 11 elasticity of demand including Marginal revenue and the relationship with elasticity of demand 12 elasticity of supply 13 cross price elasticity 14 income elasticity 15 budget constraints 16 indifference curves. Including assumptions such as transitivity, completeness and more is better. Diminishing MU 17 income effects and substitution effects 18 Comparative advantage and trade b (B) Comparative advantage and trade 19 Production Process and Costs b (B) Production Process and Costs 20 Opportunity costs including implicit costs and explicit costs 21 Profit: the difference between economic and accounting costs, economic profit, economic losses, and zero economic profit