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It's simple really; leave your questions here and either I or other students will jump in to help.

We will have this wall for all of the course, i.e all semester (we'll start a new one in Jan).

FYI both AP classes contribute to the same wall :)

Would be great if you left your name on the note, but no worries if not.

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What might be some barriers to exit a market?

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What might be some barriers to exit a market?

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In the long-run production cost presentation, it says that "the law of diminishing marginal returns does not apply in the long run because there are no fixed costs.". I am confused with the economics of scale & definition of the long run. When I googled why the economics of scale occurs, it told me that even if the production cost increases, the fixed cost is constant. But didn't we learn that in the long run, all the costs are variables? I am confused.

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Why can you add marginal costs to get the variable cost?

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Why can you add marginal costs to get the variable cost?

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What does that triangle represent where I labeled DWL?

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on question 14 of the warm up summative, what did it mean by surplus would be eliminated?

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on question 14 of the warm up summative, what did it mean by surplus would be eliminated?

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What is the complete defintion of scarcity?

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What is the complete defintion of scarcity?

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For question 2 in worksheet 2.7.3, is future expectations also a valid answer? Since it says no one contracted the virus in the US yet

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For question 2 in worksheet 2.7.3, is future expectations also a valid answer? Since it says no one contracted the virus in the US yet

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In warm up for summative 1, question 21 part e, it asks: Explain why the imposition of the price ceiling does not result in a deadweight loss.  However, when I drew the graph. there did seem to be a DWL as the quantity demanded was more than the constant quantity supplied. Did I go wrong somewhere?

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In warm up for summative 1, question 21 part e, it asks: Explain why the imposition of the price ceiling does not result in a deadweight loss.  However, when I drew the graph. there did seem to be a DWL as the quantity demanded was more than the constant quantity supplied. Did I go wrong somewhere?

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why does trade increase the PPC for both goods?

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why does trade increase the PPC for both goods?

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Why is the deadweight loss bigger when demand is more elastic (ceteris paribus)?

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Why is the deadweight loss bigger when demand is more elastic (ceteris paribus)?

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what is the consumer surplus when PED is perfectly inelastic and PES is perfectly elastic?

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what is the consumer surplus when PED is perfectly inelastic and PES is perfectly elastic?

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In Warm Up for Summative 1, Frq 2-b- iv).

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In Warm Up for Summative 1, Frq 2-b- iv).

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How can I check the short-run economic profits for typical firms? I think I can check the increase in profit with the revenue box, is it right?

Also, how can I know that market supply will become more elastic in the long run?

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Mr. Kelly taught us that percentage change is ((New#-Old#)/Old#), but when I googled it, all the websites with the information said ((New#-Old#)/((New#+Old#)/2))

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Mr. Kelly taught us that percentage change is ((New#-Old#)/Old#), but when I googled it, all the websites with the information said ((New#-Old#)/((New#+Old#)/2))

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Why?

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when we are calculating the endpoiont formula for percentage change, what is midpoint? what is different?

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What if there are multiple relative inelastic demand and the question says choose only one inelastic demand.

Ex) PED question 3.

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I need an explanation of calculating elasticity of demand coefficient.

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Can price or quantity go beyond the x or y axis?

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Can price or quantity go beyond the x or y axis?

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what is meant by future expectations when shifting a demand curve?

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what is meant by future expectations when shifting a demand curve?

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Can you remind me of the factors that move the demand curve up and down?

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Can you remind me of the factors that move the demand curve up and down?