class_review9.pptVIP

Review Class Nine Brief review for the former contents____Producer theory The key sentence of Producer theory: A representative firm will maximize his profit under the restriction of technology and market structure. Recall how to translate this sentence? Ch 18 has told us how to describe the technology in the arithmetic way and geometrical way. In Ch 19, we impose the definition of short-run and long-run, and solve for the profit-maximization problem. Brief review for the former contents____Producer theory In order to analyze the firm supply behavior, we should take a deeper sight on it. P