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C~~~,tS ,~ G.verIlMt';' S~1 - SFU.cakkasa/Econ305_09_lecture11.pdf · • So.J;.f, we h~"t s~,J"~J a sic./,' ~.rJfI,l ot t~e '0.60,. wte,lcf,+ ('''pt.If)I QwJ CIt rJ, 't4lf1i, ·

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Page 1: C~~~,tS ,~ G.verIlMt';' S~1 - SFU.cakkasa/Econ305_09_lecture11.pdf · • So.J;.f, we h~"t s~,J"~J a sic./,' ~.rJfI,l ot t~e '0.60,. wte,lcf,+ ('''pt.If)I QwJ CIt rJ, 't4lf1i, ·

Q) It CoWfplel~ b,",.Wlic. 6elle"./ E,ul'/,~I';uw,N,I./

- Inhf'ffWtpof'Gl Sw6s.J,'/.,.J,;n h, /..oJ.Y' St.tJ;~- Si••~No••eot.t 1 E,••tI,l~,iI..,,'",tA~WJ.t ., lGI,~JI(,,~

~ Co~,cr.l,'"e.Sfr;.tr'c.S

.•C~~~,tS ,~ G.verIlMt';' S~"""1- C.k~t\"S I~ Pro/",,';"!!,'?

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• So .J;.f, we h~"t s~,J"~J a sic./,' ~.rJfI,lot t~e '0.60,. wte,lcf,+ ('''pt. If)I QwJ CIt rJ, 't4lf1i, ·

~otl~1 tl .••.e ,ooJt ~11ctf.!d,l. i».

• Now we (ue ,o''d Jo !lAf fAe 2 I-oJ(di.el' J

ib J.ef': 't/ (. fA GO WI' Iek. rJ1 ,,&1/l1li," t;e,,~,..1OJ,,,,., ,6"IA"" MoJe (, (c.",+. q)

• We wnl see. rJ..o.f H.tl'e Qre "kN/itAl/;/ u-!Iex ';ttff/At.h'ort$ ~efweel!l tJ.e 300rls r I.{,I'~,ke-k , We. M~$t ;J.ffe'~ s/t,.r1~ f~e"",SI\M~ l~fteDflJ I •

• lr, fA! erJ, we wn, ~"lIe Q WI./el f~"fetA ~ pt •.rJ,'r-+ Aow 0" f eM I. ~t' I /"'tlt.g"""r '

/ ---------/Cor.s ~ 'o~ I ~ f! rJ fA...,j ,;,h,t hohJfes,.~cl ~ e~o~e"'dLc.s cJ."1-e.s ,.,. pt.,J14rJ,'II'4~ ~·$e..l pol, ~d'

• 71.e /(e~ wi" 6e w.",Jr,slr.""7 )"w -rltef -d~".e.k.,u ,.•..lJO.)fS' arcl ,"'h~ hilt! f'eeohe.,l, fl,t'CO."'CAfIIP.It'O". t .I_~,..t""~,Jec')"t»IJ Dol k.st4IJtu ,ii #.e h,'.,,~+ 'tfIl/t!s,,"tItT JeeiSl'h, ~I ;"I"A1/'

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· MtAH t.'c.e."d J tAt ~tJtAStJ., l,Ii 'fO~/,Wa Calf ke.sil~ ~~hf1tol .Jo ;1Ic,ofpfJ.,.h • s"Itf",llcltt~"'Jc!cu'tt ot Wott< '" SQII" :

~Cft~ U ( c. , c.') i,R')(. .e-'III I'

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c. + S ~ w ('" • .l) +1T''' T l '~"'oWl6"

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I Sv.""'J... i.. L ,

• W ell )C.~UI'''; ~e I.~t' MIt,k.,J ~ We+oCAAseJ .~ Q ,~ C. ~O'f,,1 ~,: 'J fA,,,w.s ~.'" .lIte.,e~"oJ),

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5'0 'flOWI Q ~O"~f i" "'~t,,,'It~sffltk d,.tk /1.10, J~"~~tV~.

W H'(t.),'pJ (~)

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:t+- will ~\so ~e ,'••,.., 10,,+ 10 frWlfWlJ,,,. f-k.1-lIJ~t~ we- I+~ i~c~tM!S IfA4.r SfA"1 ,J~rtAJfS(Je~'de lel's",,~ " fA 110,.",.,.1 3,o"J]•.

W ti(f, \lcs4f1. )~,~ NS(', ~,,'H.,),#

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Page 6: C~~~,tS ,~ G.verIlMt';' S~1 - SFU.cakkasa/Econ305_09_lecture11.pdf · • So.J;.f, we h~"t s~,J"~J a sic./,' ~.rJfI,l ot t~e '0.60,. wte,lcf,+ ('''pt.If)I QwJ CIt rJ, 't4lf1i, ·

• 11.e ~Olde\.o)J 'f c.~"e",r C.O~SkWl P~;/If ,)ee.'s"o""C.t\ o.\SO 6~ rJt.,,·e,1fJ ""Ii Q s,'WI/It. ,,.,,,),.

• C"'~~e",+~''''''-'Wlpl.·.", tAtpt~S 0,. : (') CM,""f :r"".WIt~t~) 1\e I••h,.-f- flc.h) fAJ ~) F••/v,e (.I""'~)~

Or ~t.1H...• !:.f' we ,~'hG,,~tf~-IaCo'flS,-",,~O".Q34N..Jr

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• Now lei's ~,~ 4 fJ.t, R~M'f S' ,.tlt. 77,.1(~hf' t(f. 1.1., ww.~4f ,i, .,J,,,. ~ J""t-\Jot~'S, Fi'r--.s ~ Is, IMfdf e"h~ ,we :l0oJsMCotut / $.'",ee etA""""'" .",-11."'+ MlA,f Ie ",,,6/N ~Vl~f 1/.( ~""IC ev/I./ sloe,k. 7trl-,~'"vtstw.e",+ 1e"tJt",k " ,Ie""cI'tJ r;,,. GtA~

-~f",t. .

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• So ~t h'~S Jew.owJ {:,,. ~rrt,,+ /•.1.1' 4,,1;O\\ltrl'Mtllt ~~ 6e tltsCI,'4'" 4'1 " s'''"Ilt 'Ita'J,!:

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• 71f: I.l.,. fffflC."kt.+ '-s tJ~CtpIr1le~ e•.s,I &ece,t.lSC•'.f. Ws JtASl- " 'l<e 6e'~t! .'

\•,,,,y. .. r • •• • _ ',,,,

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• To Je-kt i 1,ods ~,kef etu, '''4~'IAM~ 1fteJ-I.CDw-s ,'rJf-t' ne ;"h",fto~ 6efWtt~ ~ut ".f s.. ~ 0"';OtA+ fA-f- Jewa~D N'e,.)

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e'loO. It 1: ~"Cf~ i~ 6t~4. sp&...r,,-,~"'t,, .f,,)/,,;cf'16~) &~ '?' V,

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&.'" lot 2 : %"'~"hJf f"" Cwrl''''' P'./well'",,''''

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• b••••&.d " tlAvtClo\r 'IA~+ toMeS ~WI 3 SN~efS :,,) Ho--Je~.\.l (,'''S ••• pJ.''~1,) F.,•. ,< i~vt'~k1e..+,.) h\ltN~ •••+ ,-R.""'SeS

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• UtiliSf J.. )J C~fl~.' ~.," 'tWl'~','s • ','lIle fr,'t,k~14}lftte GOtlS"' •••,J,o•• J",,../s e", ~ff'etA'" ,'.-tu'"e~~"J. h. ~f" tl.cptHls 0 ••,,,,"J ..~,.,"4""') • ~~eo"s ~""pbO~. We toM ,J.'I''c:F 'It,s $,'•••• //'11'1'1;QS ~ Hows : •

.L • 'NIff~'ft..T.J 'r fb.... ,/' t4tt)+r't.,)+~

'i.. tt t*',•••••" j" .,,,,,'1'1y ~ etA(t)f) tr'£f)+ Cr

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Page 13: C~~~,tS ,~ G.verIlMt';' S~1 - SFU.cakkasa/Econ305_09_lecture11.pdf · • So.J;.f, we h~"t s~,J"~J a sic./,' ~.rJfI,l ot t~e '0.60,. wte,lcf,+ ('''pt.If)I QwJ CIt rJ, 't4lf1i, ·

• A~ ,,,ueut ,.-. ,. fiecfSltf 6o.,.A eel -".,/r,QIItII s•• ••+",,+ ,If.,,.,,..,J "dO' i"'t f

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