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- Politecnico di Milano
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- Energy Engineering
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- Energy Economics
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- Notes · By topic
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NotesBy topic
Microeconomics Part 1
Study material for Energy Economics, shared by the Studwiz community and reviewed by moderators.
Energy EconomicsBy topic
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Study material for Energy Economics, shared by the Studwiz community and reviewed by moderators.
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1 ENERGY ECONOMICS 14 – 25 March 2016 MICROECONOMICS – part 1 2 3 Summary THE MARKET ...............................................................................................................................................5 OPTIMIZATION AND EQUILIBRIUM ........................................................................................................5 THE DEMAND CURVE ..............................................................................................................................5 THE SUPPLY CURVE ............................................................................................................................... 6 MARKET EQUILIBRIUM .......................................................................................................................... 6 CONSUMER SIDE: THE MARKET DEMAND ................................................................................................. 7 INDIVIDUAL DEMAND ............................................................................................................................. 7 AGGREGATE DEMAND ............................................................................................................................ 7 PRICE ELASTICITY .................................................................................................................................. 8 EXPONENTIAL MARKET DEMAND ..................................................................................................... 8 LINEAR MARKET DEMAND ................................................................................................................ 8 SUPPLIER SIDE: PRODUCTION FUNCTION, PRODUCTION COSTS AND COST CURVES. ........................ 10 PRODUCTION FACTORS…
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