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By the end of this section, you will be able to: <ul> <li>Apply concepts of productive efficiency and allocative efficiency to perfectly competitive markets</li> <li>Compare the model of perfect competition to real-world markets</li> </ul>
In this section, you will: <ul> <li>Graph parabolas with vertices at the origin.</li> <li>Write equations of parabolas in standard form.</li> <li>Graph parabolas with vertices not at the origin.</li> <li>Solve applied problems involving parabolas.</li> </ul>
<para>By the end of this section, you will be able to:</para><ul><li>Identify the role of labor productivity in promoting economic growth</li><li>Analyze the sources of economic growth using the aggregate production function</li><li>Measure an economy’s rate of productivity growth</li><li>Evaluate the power of sustained growth</li></ul>
<para>By the end of this section, you will be able to:</para> <ul> <li>Analyze how price elasticities impact revenue</li> <li>Evaluate how elasticity can cause shifts in demand and supply</li> <li>Predict how the long-run and short-run impacts of elasticity affect equilibrium</li> <li>Explain how the elasticity of demand and supply determine the incidence of a tax on buyers and sellers</li></ul>
<para>By the end of this section, you will be able to:</para> <ul> <li>Analyze restrictive practices</li> <li>Explain tying sales, bundling, and predatory pricing</li> <li>Evaluate a real-world situation of possible anticompetitive and restrictive practices</li> </ul>
<para>By the end of this section, you will be able to:</para> <ul> <li>Contrast M1 money supply and M2 money supply</li> <li>Classify monies as M1 money supply or M2 money supply</li> </ul>
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