ZOMG MICRO ECONOMICS WTFFFF

[NT!]

hi bbv,

i have an allegedly difficult midterm on this topic tomorrow.

i would appreciate your thoughts on:

supply and demand
elasticity
aggregate demand curves
social surplus & dead weight loss
intertemporal consumption models
why i am not 'cramming' (LOL) for this with hot chicks

[edfurlong]

http://forumserver.twoplustwo.com/po...amp;Board=Dorm

[Quicksilvre]

[Quicksilvre]

Seriously, though, I took microeconomics two years ago. I don't remember jack crap about it other than the unbelievably thick accent my professor had. I gave up trying to understand her and stopped going to class.

I wound up with an A.

[Conspire]

LoL wouldnt this be a lockable thread in OOT and Student Life?

BBV4L however welcomes you sir!

[yeotaJMU]

im failing so i cant help you.

[whoisthedrizzle]

Sometimes when I'm at a restaurant and I demand something loud enough, people "supply" it for me. Does that help?

[NT!]

[ QUOTE ]
LoL wouldnt this be a lockable thread in OOT and Student Life?

BBV4L however welcomes you sir!

[/ QUOTE ]

thank you, nice to be here

[wdead]

[ QUOTE ]
hi bbv,

i have an allegedly difficult midterm on this topic tomorrow.

i would appreciate your thoughts on:

supply and demand
elasticity
aggregate demand curves
social surplus & dead weight loss
intertemporal consumption models
why i am not 'cramming' (LOL) for this with hot chicks

[/ QUOTE ]

i majored in econ. its super easy.
Supply and Demand, just remember, Equilibrium occurs where S=D, if there is too much of one or the other, a surplus or deficit forms

Elasticity %change P/% change in Q. land is perfectly inelastic. E=100000000000000000000, because no matter what the price change, there will be no change in quantity consumed.
Stuff like wheat is very elastic, if someone sells wheat for a lot more than the other farmer, no one will buy it from him. E is near zero

Aggregate Demand Curces, just add all the demand curves horizonally

Social Surplus=Net benefit to society, this stuff is created when benefits of something outweight its costs, like giving money to people who live near airports to make them happy about their [censored] conditions

Intermodal Consumption Models- Pretty sure this just means how consumption changes over time

Remember, if you are ever confused, just remember when Marginal Cost=Marginal Benefit, we have achieved the efficient solution. Micro is so easy if you dont do well you are a moron.

/serious post

[wtf5]

ur subjects are so easy o.o