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