IV. Using calculus to obtain precise results
IVB. Solving optimization problems
Dates: Oct.27-Nov.8
Readings:    Mathis and Siegel, selected pages from Chapter 7
Deadlines:  
 

orng_line.gif (889 bytes)

IVB1. Maximizing profits under perfect competition
Day 26: IVB1a. Using first-order conditions (FOC) to find solution values
Readings:    Mathis and Siegel, Chapter 7, pp.254-256
Day 27: IVB1b: Using second-order conditions (SOC) to check results
Readings:    Mathis and Siegel, Chapter 7, pp.263-269
Handouts:    Solving profit-maximizing problems under perfect competition 
Day 28: IVB: Maxmizing profits under monopoly
Readings:    Mathis and Siegel, Chapter 7, pp.256-259
Day 29: Workshop: Maxmizing profits under competition and monopoly