Got my economics exam tomorrow.. Any general tips? Want to get atleast an 8/10.
supply and demand
fishing for lobbies is more profitable than fishing for swords
>>24989656
how about you study you fucking idiot
what kind of hick comes on r9k to ask for economics advice
all these little shit stains know is faking mental illness to get their government cheese
cobb douglas production functions
mpL/mpK=w/r
FC=TC when Q is 0, VC=TC-FC
AVC= VC/Q
ATC= TC/Q
MC= dTC/dQ
to minimize a cost set it equal to MC
Thats pretty much all there is to most economic situations apart from the geometry involved with dead weight loss and welfare/surplus
>>24989821
Great stuff, summarizes everything I had except for 1 point nobody gets thanks to our horrendous professor; utility calculation. How do we calculate MRS for example? It's just one topic but I don't it mathematically, intuitively it's a cakewalk.
>>24989941
MRS is MUx\MUy.
>>24989941
Don't stress the test out that much. Universities are usually forced to grade on a curve
>>24990188
We have a brand-new economics professor, I'm afraid he'll try to ''prove'' himself too much by thinking of difficult questions. I hope that what you're saying is prevalent tho
>>24990064
Thanks! Is there a way we can calculate the most efficient bundle on budget line btw? I know it's done by the intersection with the indifference curve but I can't prove it on paper
>>24990411
I don't remember that, you're on your own. It wasn't on my final. It'll be easier than you think if you review the cost and production functions.
