Card Set Information
CFA Economics Level 1 2013
Demand curve is a function of?
Price of related goods
Supply curve is a function of?
Cost of Materials
Vickery (sealed bid)
Dutch (descending bid)
modified Dutch (all get lowest)
what is the deadweight loss from over supply and under supply?
over and under supply = deadweight loss to both producer and consumer
slope of D & S depends who bears most.