Podcast
Questions and Answers
What potential issue can arise from excessive downloading of documents?
What potential issue can arise from excessive downloading of documents?
- Enhanced collaboration among users
- Improved access to important information
- Data loss due to overloading servers (correct)
- Increased file storage capacity
Which factor might contribute to a user downloading documents multiple times?
Which factor might contribute to a user downloading documents multiple times?
- Regular software updates
- Limited storage space on devices
- Having a slow internet connection
- Desire for updated information (correct)
What could be a negative impact of repeated document downloads on a user's device?
What could be a negative impact of repeated document downloads on a user's device?
- Improved performance of the device
- Enhanced ability to retrieve files
- Increased security levels
- Decreased processing speed due to clutter (correct)
Which of the following best describes a consequence of downloading documents excessively?
Which of the following best describes a consequence of downloading documents excessively?
Why might users not delete downloaded documents promptly?
Why might users not delete downloaded documents promptly?
What is the primary focus of microeconomics?
What is the primary focus of microeconomics?
Which aspect is most likely studied under microeconomics?
Which aspect is most likely studied under microeconomics?
What is the outcome of an increase in demand while supply remains constant?
What is the outcome of an increase in demand while supply remains constant?
How does a price ceiling affect the market?
How does a price ceiling affect the market?
Which of the following best describes 'elasticity' in microeconomics?
Which of the following best describes 'elasticity' in microeconomics?
What is a common consequence of monopolistic competition?
What is a common consequence of monopolistic competition?
In the context of externalities, what is a negative externality?
In the context of externalities, what is a negative externality?
Which of these factors does NOT typically influence consumer behavior?
Which of these factors does NOT typically influence consumer behavior?
Flashcards
Key-value pairs
Key-value pairs
A type of data where each value is associated with a unique key. Examples include dictionaries in Python and objects in JavaScript.
Clustering
Clustering
The process of grouping similar data points together to create meaningful categories.
Generalization
Generalization
A measure of how well a model performs on previously unseen data.
Supervised learning
Supervised learning
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Unsupervised learning
Unsupervised learning
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Market Equilibrium
Market Equilibrium
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Equilibrium Point
Equilibrium Point
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Marginal Utility
Marginal Utility
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Law of Diminishing Marginal Utility
Law of Diminishing Marginal Utility
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Consumer Surplus
Consumer Surplus
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Producer Surplus
Producer Surplus
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Deadweight Loss
Deadweight Loss
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Total Welfare
Total Welfare
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Study Notes
Microeconomics Study Notes
- Course Title: Microeconomics 2 (Vietnam Foreign Trade University)
- Instructor: Cô Mỹ Hạnh
- Topics Covered:
- Demand Theory
- Utility Theory
- Definition of Utility (U)
- Characteristics of Utility
- Total Utility (TU) Formula: TU = ΣMU
- Marginal Utility (MU).Formula: MU = ΔTU/ ΔQ
- Relationship between TU and MU (bell shape)
- Relationship between MU and TU (increase, max, decrease)
- Examples with calculations
- Utility Theory
- Law of Diminishing Marginal Utility: (WTP ↓ if we buy more)
- Consumer Surplus (difference between WTP & actual expenditure)
- Calculating equilibrium state and market situations (surplus/shortage)
- Consumer's Preference (complete, transitive)
- Indifference Curve
- Budget Theory
- Examples of bundles (football tickets, film tickets)
- Lagrange Multiplier Method
- Finding optimum
- Consumer utility maximization with budget constraint (U(X,Y) \to max)
- Effects of Income and Price Changes on Demand
- Income Consumption Curve (shifts right/left)
- Normal goods / Inferior goods
- Price Consumption Curve
- Substitution Effect, Income Effect
- Demand characteristics of goods
- Importance of properties and characteristics for consumer purchases
- Examples (sugar, honey)
- Demand estimation and forecasting
- Types of methods (elasticity method)
- Elasticity of demand (Ed)
- Cross-price elasticity of demand (Ed) (comparing goods)
- Normal goods/inferior goods/complements/substitutes
- Decision under Risk and Uncertainty
- Definitions: probability, payoff, states of nature
- Expected value (EV)
- Variance (var(X)): Measure of dispersion of outcomes about the mean
- Standard deviation
- Coefficient of variation (CV) (tool to compare riskiness)
- Theory of production
- Long run production
- Short run production
- Isoquant
- Isocost line
- Market Structures
- Perfect Competition (P=MC, maximizing profit at P=MC)
- Monopolistic Competition
- Oligopoly (Cournot, Squeezy model, Cartel)
- Monopoly(setting price above MC, maximizing profit/revenue)
- Demand Theory
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