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Public Economics JU

public economics
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0% found this document useful (0 votes)
20 views67 pages

Public Economics JU

public economics
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© © All Rights Reserved
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PU ec rk 3 MUBLLG EoonoMtes. 2.2.02 gb DW Whe bicaunch of economics Wat thedion ! Wne rete @f goveruamrueMnk in the conor, f Government ncerrasuy te rnainkain order | in Was SCOnOIME Yo Hhat tne marek conn eporake efiicrant le 5 and aloe ‘yy racommasrug Ww cane Sf mareleok foilwee . From Widh 460 death , we ow dopendonk on were un man ways 49. boot wrdificaks and | god Centificoa « - Hed gout poricies opeck ths. eeenornd 9 We wit fudge ushathed tne Gor. policias que Udetul Or Net. Nerunokive appreach : darianing- polices With Feopect 8 Some opecific elective keeping thane electives W mind, ue WL las 4 “3 4 Yar gow: poricieo werk = whak ote policy coud home be urdortolcn We gent . i owed “ay, tre emjeckue aSuelly ang © 7 Te undertone Were poticise and s on abrase CMPLD » FOX's nando ) howe " arias reoinng power - Thin cemrd ke rramerrine Scrat Wasa . ees a coda urgent ua mind will be Mimenanted ‘vA Puloiie Eeonomuts. ) WE WLU alyrs (edge \ Mae torre cay pretoale « MAWVey | vt se towel off Ane Wace it ¥ . . AUloeey Woe lemee = Pevade Wweotment. if i wl ena lyac Wave nate a We HOV evince WAKE ALLVIg Vayd ous fete ws of ia} Maadgot rh . 4 . SUVA @EN PeetO%er Widete AL Lee © dicaligg feats , eta. (hag St yeeadeh toes Boel Hublic: Peone nation 9 OW pas a lot ef Practicat yelovance. * @® Almost all Lconownrls WIELD Cerys, Ayrecegh putolic: podicles e Gey. hos a major woke WM IMplementinc paticies for maintaining the envovonrncrdc, @ Gere. plags ® Vital MOLE We impLMmentinc Seyety MeascErro , Lee malein g scat loetes gempttboory. W Cass And atao implemer it Sa crak wetforce lauss Wee Minimum coag ¢ lange. fa: torr ating. gna enbuy ef (iaing Grats Wa yunets Premente ove lishing \ ) Public goacto ane non encludable . lie - ye yt Ag, Sule i) Fatounatity > PootU ve amioren COULS 4 _ Muy acklaw banat ts Stree 5 MoOwanen thorn ulolity Negative MOULIN Nae Oka hou, ols, 5 reduces \ireivn tele deg . it) Saperfect inoremation TRAY YWOAUe bn mardtink fate — Any Mure d Puy 4 Wee Geum, coun provide the comet inform ation needa or : Govt Plays tae Nols Of Naural monepotic Bion ft cane of ne mordek forlure, we need GON IME. Mordeak allocator ars lou eee ane net oprritotols (ONt- Gomakiones Lakeenee te establiol. , oli! Analysis : PulolLe re af bene! giving {he eo tk + Notumative OP Pooscbie paticy. paren the prooent + Positive appreac 7 pouiey mate Ane keot Poiey incon and com loina Wee findings be gene Hae best poticy PRO OUP, Tan Cut ctw | > Low tanon paid by tro Reqreonnrive Poorer. Sec dlcarr > How rans patd bry MWe freq? LOPAiMe INO LA- ota eye beckearw Pic qpunive » tan y Yaw dane slut chur we mMeve yowourds & Ne eq sttasad 9 Seo . wu, Ma, Han £,W mor O Atkimeon + Stegeits (lackures MW Fublic. Frenemics) Shaper 2,3 @ Hindruictes + Myo CirkermaRiCke Public Economics) __ Tanaka, Pulotic RGced, Enter na titi en 2 Husgrane O24 Gmpadr Wak ose naw - eicluchatota. UE ON qevat Oe cated putlic yoade . comms ALQree Of enctuadiodel ley ond ye.voloug vies UA mbob % poiic fo. Egi road wits mead Ja sywoDe qoade Mat ate cormplaxeaanate Lip nom — oncurdalle and uow- tivat ace called purr public goods - enareneisies +O pUAENe, Sf te ee mare fous te opautake egcnen aly Ther. Hie pote of Govt becomes eu tre Maw UNnpottank, Ascuynmeduy A information > Wirt poty mostly govt) w needed to pravide ro eck LeMNpelLtten 7 Gevt ensue? propese alecaKienr ak WwW nek porrilete oy Thin wm cared Une AWecative wele of Hac Gove. ae Even vshhon We manleck not foiling Ye yrauerke auecatiowr m nek le equitalote anougn i in ebectenk: Them, te fe enough WULOCALIOM Of Yonaiurcep , CUNO) OL pisips govt. Wrougr ane ound emp. policrer. an cane of Wigh. “UnYotiow ound Wnemple gman (mocrseconemncc, UNBEDALUHED > Uae i He te contrel Mra situation . Pease L AtKannonw § SUgcits, . runtte 4 leckunco er LUublic Econ nnitr ywole. od tus gone: 2 Get .’s ontig rete om to maintain low and ordre | ne alr notcd Ws naedad , and Govt. dao ° Le SUE im Hs econewny - an erdase casory out uw empex1ae> » Ws. Gone. | needa wpowme PAIL, LORD UNG powore 2 Wn sorneo Hugh AON ALLEM - Fs Oh. Minimal stats apt out anpeckte Of nouschp Ld neantims to ayers rriediuters Tan can hong Aoct pL ovr - . High ince tam 7 4 yusee tan E a append tre quand POL MOB socom Beciptems 2 Eosenings Obak wets ie Basenings + Bequests and tweak Becineevrs an& acy poceiva sh oleae “UMesrmenk ayhook Mine Uwerdmente ‘wucomMs - From. Hip » tokah income = Roxquruces = Sonings I efpore affect | seantmenk meme ) \ + Cena umptions + Pea rontn Wate banger “hones dapand ow an indivi bociniornr. Ndividral's Au tere decisions ane mace. independont Uy , but evensatlg . nor als algect: eocls oto. gn Ondla, differank Component of Cncems one Laned. digest Lay , and Were ban rake aNeck Mdividiuat derdnrians te ingen ayes + Uherrsse gove. pouys paruian , or mma di cot Wnauwianice » ek » afiecto individuiat's docinlow Of SOMENGS Of en medical Uroitconce . y we govt. hae Hace fpcilitios, dren individual's wivngs WUL not lee, vag Wigh and Hae on WAow.are Maave COMOLUN DOW eMan MOK. Notre? Of tamaklow Cndiniauad ve. family income) — eq: % fori income ‘w taxed, wot. uskan & and we may net work » an ous Of Hien mM doads wok 19 cupply ladon . On he otrex Vnound , y undivicdural LICEM2 Ww duldstan ,nouseherk chorwe. roy Onn docids te dO Hore tngutnahn ay of ingil nib Trhnee Effects : wy tanad Lincems 0%), IE = wher = wards - 43 bowe 4 eaur dre Sums ewig. 4 nord © Work more SE > price Of leinurct reduces, @ now 4 wilt cmUnk 48 Wut eps and UYjoy more Wipe eee Lapeer t a? fom Ww imprre sy iawaus Yap tant iw uepore ‘ A Widury we tetat ena tetera, Pejore tenation Us UC2,Lo-L) = 4 COWL4+T)D, Le- Ld Suppesx Mas. qevt . Unpecses Proportional tara Ob the Mate by - u Yo net income Ofter Lay canara Ye Cl“ ze WumW tar , Ue Ley fancteow Lee.comeg Uz UCY, Lo - 4) ushene Y= Cl-bi DCWL+ 1) 2 WORHbi Lb * EOD a oi GS park tom nou unge post tan wage Nete = eat = Ubary ushesce 6 = W (t-te) pont term WO G0, rade, Me TCl-ti7s pert tan new wage Wu come Ayers tamation - les We cure cOSs*Ae eft, we Secome poorcs . Se consume [ere 8 both goado Y and (lo—t) - Wwe, Winune fatro.er we put LA mete = labause heures te keep uxt Lily ok Hae Same Wer. GE: Opportunity coat Of ket leLsurs Vv? falling The decistore 48 Lneuare oF de Crose lolanus. Wows depends eon We Rebotene elt engin Of SE and \E. FEM companies Pry employers UA terms Of ceowrittes ,» Yen Wwe don’t become were OY. Than 1[E ard SE to net aUmk ay Sean QwONne » Tho Yovl. ako Lewerr tan menue Urner i expected - pete nigh > incemtime bo woe, to evade tapes 5 LShewr tan qe ridove cry nedirces aNd Wncencar * usren UT W, outed TE werrkés and Mare ‘e ner SE. laloe ws umn eccurs Uhur a Llane —-E- The = § I: x oan ta Lumpsurn ban wo ocd oe : ae =u, ont fe werd and nok le whew b= Sn Min care > wee t ; Conuy wags. incems tared) en) w= UCT; Lo) =u wlth, to- L) Pro teu tncome + 2 = WL+ Peat tan bb income. Y = Nek Wcome Solem tase ued SS AL > Pre-tam Bye BY > Rook tam BL fa BL > leat ie. is>50 Gne. rer BL = LA, ie (Rece AL = Pet Pre tan BL BM > Post tat BL aM => Gudgek Vane when W= US Pts ¢%. Ie Pw P? SE Pte fs PE. P: eqapitiwecom ak £8 F.L and oid 1C P? tequilllokivun OF N29 B.L- and now Ic PY. Cyrille A New TG and BL FOrte ALOR te Clot B Lie, W kamaini- nq undkiange &) AI -> pre ton BL OM > pect tan BL oe oS a eae ae ; etd BL, AL, Le. us W reads uncanged ow wm wets c i ef LH and ert =< p? Wi wen mene pens new IC Pe eqpri rir wie new \c ancl BL yo old BL ou, = te Leip ure VOLS a 5 he nk Labow hewn foo*, yw eh — eid We now Lolo fost 70% Labor ours serize ay Lalani newer | criamouss Wee 7a ie ee Suse SO a 2 (BB Sr - ek aL gus ae/ Kz om el | S7 NE. Wau 1 (oleon9? in a bad comunede iw nce 22h 570 a wna “¢ 49 | 7 gad ; at, vybe danse E€ Which Ww tve ; = quad Vics. VORA amin we te Gmpack Of t ow L =rél.. 7a + LG at b 26 \Cw Oe aa G2) M= TC-+i) 2 -W@t). oee 53) % oan * = (WL+ 1) ab_ aM -ws - (WE+t) dk. L Se 3 i ee ae aru 5 negative eee +V2 “ve Bhretrer BL ip ave on “Ve dapend> ow tne rwlakine BoE Of WE ~ “ Lerunn> + 14. 8.9094 ome tan? \E works Wore eye el ates wrorsase’ - Proper trons Dek Egyor® most 9° _ tue yacneane or Hactnae Baperdind ow yehakLVe pee angi Sf \ ‘a can We S fuakien >» wort Wumpen damn Your (er oa Ly 2 al tor Weamenare >» post +e be ‘UA cape of a porcporiomat tan. Qt bank rovers Cpreporki ona) Sup pore we wer keeps as weds are upse Sf ne Yaa some ushetrsse O Lumpy LOPErkLONAL tare wv imposed - A BL paratst te tne eriginal loudgek Une gut tan to Wea new |e ts dravom - Thin equiietum ak Py. New, PyR ww the tow weve bgrred. Baar 8 wick @ Whe preperctional tare TON OVUAR - Thun, to TIEVveUe ot MAn gone. is bighese 1 O sumM aur tan than for a preperetional souk USE BONE . keeps peok dane werperee- lors Sone, UUrenpective C1 Lyng princiey- 4 toncarieos ton P fat or & FC 1. Compare, Wunpiom tan with piroparctiayol koun ushetee bella have cyral yietd . —woyase undare Wuurypauim tan ‘Ww alwars Wigs’ than thak Unda

Lumpsum bam 1evewes (wcepiey welosts som 5 Le, Same le) (AQ = bSI< PR 18 2.0 24 | U, Clo = 4D Paretget Cs nayee a Wet) = us) a Awe we ack Seton Lee C0109 ree Nes ay and x (E) = Uy Gol + MP + Uy Clem 4) buye MEWATL ALN, co deeb. Lbs d= . ; - ee ou -42 = © — @® uy U,' 2 MU of ein vou. Poy MLL Of WICOMe Byfoeamtiaty ig @ wwe bw, uf = FCO suo Le ae. at "ye — Ye wee OY ei widh Dek -'¢ aw Ow ow uy? lro-e =7 (wu + ug” DFE 4 : 2 > Saf WwLu? Vr 3@ +u, =6 =7 (vu vy) a 17 + uy”) Sb z Bega - uy — wlu,” Z een oN [h(a ae ay? 1 | _ eee | share Semele ans j solootionty Of Ke ences MU og inceme.¥ lok us tone ty = ib gow = -Uy? — wl bal Gi ed vO Not? , Wee =7 [l- “(ey dl 70 vau a 7 0 Sppeoe- > ool ~ F Them, Sb ow = © | LY a e (wle+ 1) - 4 SS oa | Wle (wir t+ @ epwe + (rt? T+ 4 uso OF de 7 A + io ee ol te 7 ia et ly-* ole & ~ nugh — a= OG =7 Wl+ut+ Go 2 alo ~ aryl =7 wale ee alo = (I-02 - C-a) & us ate - Header irae ge WwW UI-*) w ee ee Ww ci Ow = ie 5 2alo | | an cane Of proportional tam > the tan os | * roe nok affect Lalo SUPPLY ond AU ag news Yy we york: Wants *@ nawee the RAMS TRIAD Lory UNPOENG a prageepsive tm, Hon LAr \AOUS+ supply ‘Dw apecked - Ob eee a ee) de WU) * a Cleo). a ' WCI-*)? =3500 ‘ U squads Roe» HE HEH payee Aigercond jon dynes types of Some?” Nek sNcorne ab OA > vatat e availalate tune AB ape tom Be AE —> poor propoctiont L tant &.L. ob 2 pre tom lela b HS NA Leda Rb > pe tan Words Wore On > pase preporticnat ton Leinurs hors | AW > Root prepsrienat tom Wk Neus | AL? poot Preqrenaive tom BL. Wo dad dre parallel Une bers to korg He fom Tavenur Of We Yevt. Sone - An |L AB. OS > pest progrensiva tae iowe wou AS > port Prog rianniee tam Werk Ne cre Properckiaviol tan — Pruagrebsine ton Werct« Aw As affor = | AH > AS =7 Werk effore Yyorr OM decreaa.neng ao Me ton Sthurctioee be Comer more Psragranot ve. by on aipjeremsig 1 G contel hove keen +o woe Yt Of e. Buk 5 HM wu CULL0O-4s be +o me ri Ge ferc progressive qn Sturschw , wor edfore ALON dacruraher. ae anatysir 2 done .roling new ~unge Wceme =O- Thusgecave | Ga AkKEnseu - Siglitz, ue fale me - gers new ~ Wate, inceme . AG i we stan BL. ep prepordianat tam B-L- Ger Une paraust — AR ve Keep he se QIK OM Wwe ue en HARE : Sy a and WAR UHL time . ° 4 se © working or NYO dapendin % en me Sepe Sf He BL. ond Ils Sn thio dogo > AG ‘we BL. Ond He Tec we fonater. Eyilibaium Wak A and We Spend We entre Keone enfeying cities: « ~y — ae wp whe budget line, ‘| Be? and 1 Oe w : : porte OS wé » the Wi o, We cpend the entire time paivet §% PAE DB whith AB as BL Jk be inpooed ot mots f= BD te Ta* ob te : Kp. eHotge? RE wD ab A. We Spend entire Li 6 oy Ww ame eee WOses . Worle efter =o. “IEG oy % 4< Pe 5 YULUIPLWUN i On tro vouical 3 OP ania. We Woke the entire time ! an Slope oy 1¢ < Siepe Of BL. be BL. conccdoant Wit. Ia a + - Ze Uc Z ' ° ak Aa. EQutitecum com tren 4 e 7 DE, equiivium w om We WwriZenter be ee Le Slope of lu 7 Hope OF Bb. | ay Entre time wm enjoyed ar einurr, were effort =O Mve _, dscreaning aase TL : Muy » eenstan® and MUL & deocreasi GaSe ~ My Cerwem es x Y AL a paskxatare Lb, Hie ° Shope of Hrs TC musk be Sows SS 2 ong tak Vertical Ung. DL LEMITEITT REIS SLA, URS = nN Quart Uneort URL fun chico - Qniat BL. 'o AG. e Ne Qntiat eq. w ak F, b eo Tam & 2} , a Se % se eengosess, PaSsess\ + Ss dna ey. wo ak Ep on or ee Hac Budge Uns Ab ie ay Von x= he w ln paors > waar SY oe Moe sammy, Bo % . HRS iy 2 MUL dacroaning “Te, 7* MUY La 2 My same 2 I@s ora convert YL 2uvuy T be Has origin MRS > Baca etag As wa mone oheng a herursnkoat Une ak a paorcrutase Ts tne Slope af tne TOS WU be Somme. OR > time avaitatote 8 RB > iwitiat SL. Eo mittat WHEN IE< SE. Hrs new equtlibuumn can be Lo Me Might of c. % ela tant gees ew imensaring, we duwmase lWipurce and Muware AH Work efforck ‘unitiatty As tam “Wewoner furctior , Lom effort yon en fotuing . ap 42 OH, wy. Wile ak F om B.H athe o8 bouclger Wine . AS, Work York b ar tom Ucraones Lotnen case TZ: MVpand UVy bath ac fauing oe MUL MRS = TO Tos oma conven +0 ougin - when © of Hy w <4 > Work Ymct T ap tan Mowanred vOrenr & of My ib TL 7 Work effort J as tor inereases Ropersincs. + Mie qgrecane > On AN Atvinsen Sig 9 Ch.o 2.4. 9094 ——— Noitity be Pare Punciele | The wegrepsive tan Puc pyusrck Orr doperdank ov rnin principte . There LOM ype public. goads merce (yoo, 122?) must PY quater tam te tne qove. Hoa Panse use Uoe Wr & purse qoade Cridhon chau) - ee-Pla Une more Of public geadn, Ths psa. Pp Govt. scheats and heap tate » and wneoutd qos Saviifice Pniney cies. | Witty Low due to tar Pagmsnkt mur he Sournt fered i) Farad Absolute Socsdifice, Fosth Wn ataclute Lehi met pe Sow yer OL HW) Equal Prspartionat Saceutpic2 > Fath mw prepeteonal wslutes musk Le Sars (ore | atk dus +6 Jonctiaw | ii) Equot Masginat saodticte > fall im utile dus '6° Oe unit increase j{ Rae just be Sams ber al. “ B Asburptrovs : 9a come apcer ALLOW Gn ew32b ‘wh taldon Ads Oo manne of cyeitt . wee +e pasq (are > 2 ‘) wig ‘w Candinatiy MEAPUScalslo | otal ubiltteyy ef incerme Ww eadstiysd an ua i) = UY) (ox dae that thin Yuse [pr att and ali 0 ui nd alls have Same tcvoten and Preferences) ) masegeniat ULE @f Income w diminia hing . foawat Absolute Sacret( tee ‘ UL) > Preetan WL VV U) = Peat ton ubilioy = u(y) ~— v(Y-T) > Same dor ale 0 : Wncomms bbvels erctionat Somiyer @ eavas Prep kill 7 pened Change i Ubi LY musk be & for income Ievewo V(D=UORT) _ = > some or att voo urcome ewelo ® Eoprak ina Soorfice + foot wae =U must lee Same for abe imcome Welle: SUH =k Same fer ar wcome a(f-T) wows . ship happens pan past tan WderrE P Some fe aU plo ect ‘> te dovelop vw UEP ALY, tan gruwckurs OM Hs ore ef terse tree Saouifice prindplee - Yor “ peryynantk depends Om mncommnn * T=7T(¥), Tro Such tnt | . a ; ) BT yo — Necemount, cond ile ®) ACY i : "ay To - Suggicten® rnd OA Avg. tow pogreene WNOWODey wu Wow oe im WMooms vr ». Any Of 1,2 or 3 2 . Sots fw was N. cond But te S- conditrovs i Lo satisfied Wy 3. ord: 2 3 37 pregressine | 2° preperctiomat =Vy=) eons 47> TOE Dame, = an 2. Vy w MIesAN| so. Alt . . av ze ° ¥ Tin ib & prusqrrendive toe Schrecdiute - aC) ay eo => Yat — TAY 3 av = 2? y.at or ar ZO ev dT 1 Gvoy 7 © 27 AT yt ay ¥ =7 Madcginal tam mato > Average ton Wate When, Han tam cbutectuseo WwW paagrenssive . - dt_y = a > ale -¥ a ay i ee yo ls S Wave a7 \ “aN x ae Av- AT 6 YET . ay ie er a(iD 2 OD LY v a AND « at w-V) Y wise Rose Of GreUsne Sf fim tO “uncome bo ler’ prawn vas kate Of (prepertianot ) quest. of pra 40% Agen. Vite hoppers uShan Hire! fant Suche wv PLSfrerrive . @ EAS: arte 2 mdividurcl® » A ang p Suppere Witee Totes Ub ‘ oYa' oY come ef A dD im pu and fook FON crurations OY, - ore = Ta ea ‘ B O¥p! , Ye? 2 ball pack Aan Sitrattow> ee, 0Ye' - 0%” =Te = tam paid oy pb. and AY, C¥ph = TU Of A GA pe park tan simsactow BYe! , DYat > TD og B ww Pre = Fon chuck A&C > change i eo ™ us GERD: fom poets Bb = chamge in utiv tes don youpmenk (Te) wp @ dus bo No.o, Cae a e ge, Gas) prams petraroe ct sreo | EAS + UG) —UQ~T) = Ke Dipvesremmio ting ee. WEED = WORT? (1 Sp U- 2b) =0 Pwd = wD =. wenn. 4h ve ty “ay 7 wr (y=t? - wed 4 w(Y-T) Ww (YHT) = MU e | AED dinin dea ng wef ¥ wid) = Mvy,* aun - WUY-U > Uw . WOOD Te MU yg > Uy A 3 Naceseosog CON BLEOMA kee rms een oT AY 7° a7 Ul(Y-T) 7 UC) ay MUy-7 7 My bin motuing Wy Sakichion Mito condition tom Stutctirce UW ecancaru ly preaqnetaivs Se faene coencdiuy . upg. aye condition A CY-T) Ay — —- < ~Y rw) ay AWD ¢ X=T ay Y 2> \ aT « Y=T AY Y BP po WAR-T)- WOO gg Y-T ul (Y¥-T) i BP WORT — WEED HU 2Yot w Y= at) Y =7 wy) z 1-T Why" Mt a wiy-y an Ww lt-t) (y-7) alPro 4am My X Prey tam YD < Be(Psot tan Muy X foot tan Y) Tam Shuckue bo PROYUAVE Cnty ustien : we (STOML,) < oF (MAN OMYy2 ) Oe Cour Sufftccenk Up SU Mak tre tan Strerctwe onl Gren We Pe TOR Bree ‘Dw PrOVUDawr wD ers tan Hie pest tox VE. EPs AB. Cb. AY, ee Compare & yo ERS 5 wa brs , tow © tr " fon das wighss Encome dackivichusot rete be Wigh ode . AGY CP Reg: Breusn and Jackson Putte Secr9x Economies 5.9 ers : Eaieey ud? ~— UOT) mk ucy? S 7 UW) = WO=T) = kudyy 27 CK) UCD = UCT) 2g diye were. Y (ek) WO) = wT) (- . ul (Y=) Qe at Sy = OF) warn U-8h) 2 Coe wo. av es 27 At RY = i(o.8 2) wD w (X-T) Ww Wet) _ ee) wen wWwr-T) How, YY 7 wo) 2 w (t-T) o Aiy-7 ~AVy MU y-t AU yy 7 ame propardionas Mags, im Mlty of incorne gourd loc Pertere Vrouw the PEPE tienes, change iw AU ef income - yin conditleuw ‘Ww nak SOLES RED, Hen tay, ik ine SOURCE w nek POPorive . ye cow Seyectauses Day Wak the tan quent ree w Progrensive. ony uso te, o condition hatho. 4 ucK) ‘¥ omy y% BUUET 2 toe au tom payor A(Y-T) Ly yor mould we Same for aut guppee Hrs G2 N number Of individuale wit come Yi aos yee ona vr ton pugments Ts Tas ee 2 TN Y7%2 7-5 7 Yn > dascansding ordar Equat rrorginat Sacfice neyutres That ore Wet eect. Bo = MTN 7 Tt z -ley- ...¢ j- Te an (i-t) =%U vee 70 Ww OF Wey ze NN . <(- “etm yc -e)se Yn? Om) <¢ a? aveT e- Te eg. SAN ‘1 Yo Yu | Nae p ging. ea dh serum boy CU: | ey Tayeees y Te % Yo Yn Thus > EMS pninctpte outemnoticothy soxristies we Cconditiar a} pregeran dom pbhutricturn. r Buk tnin ® an idood murotiovs whic cannet We achtemed im treoalitt{ : Thin impies Wek owernage rope Paymeank Lncreaner Wilh thea inoxane WM WNcoOMe lero »i.e-2 a (T/YD AY Bot necersarcyy and Sutpicrent conditions mw atispied ta thio cane. AY Tom Sheu WD PRS gropaeve, » © | | TAKATION ON SAVINGS S oS 54.2694 BA entpends " de : lous MPSIVGINGISC. “Wr Moto d BF Hosea HH 5 rene a Mra, UN CAN kW Seow thak PEG 1 VA Bonet 2 ‘come more. oo | | Hew much we Soe diserrrngn Uovortrronh ip j tee. econo ny : | Uly dis people Sasa, ? | + dotayed COVELL HOM. | + Ururrgemnies + bequest MRELY & 1. Mycoycke meting be prnandtn od Ip LII LOR | Hem enue Yan or Vibe Bayty age lee Qnenen | Widdde oge eon and sone . cops BAYNE yaw satings Bus age =? | 2. Precouklon Mpkive ~? Moy save Wr Orda 1 provide Unusance Yee 0 Situabion Oh winyoreneenr IPL, | | |s. Bagyyant merive provide Koanual Posty bo Que NUE GensraKLorvs Hare» we WU comaidias. only ne Ufe cyde, neti’ « Sumple Lhe Cyrre Wade. 1. An Undiniduadl ke Law for WS porads, Paoyriad 1 and Povo Q, 2.90 we bios: period » he erune and ta Hag second pared 5 Ve Seder: Helter , [ee eg i" te ke et we oe mcome | we Pasiced NONE, Constunpica, | & Pordcod 2. PR QY a _ « beuproaty, pA Ne dann Ofer Uysula d 0 end WO may a | I wwe | Ore, WIC feed fon ta nuns gee ap (IDIOM S yy | | pyeds ay S. Suppor, Cy, and Gy arn be we toto un ord Looe Culrtee wate 8 iy tote Wh ee Hs Ur Une ee ’ : ae NII S Porad Joy Vasu. wt 0, ww Sasline "d F pesegtA, OM PIM ENy, ww, tose, Ob a d = Slaw Lae vt VBICOIMS: Hs Ce, 27 S41 he. Uvescberipa nad. lo 8g ade WE ey S , = oy+ Se “7 W iare Suppose, Gove. UNPOLLL Lay, Ce inher oats Lancome a & Maks, Of bi. | Ubi oO on individurad Jopends on ConLnpuon in Pues Lo and Yonnuurng. BIOMM in Parcicod » We UL re,d “The Ojecve © coun ings WIDCOAe Cy ond Vid 4.09. in be £2 oA Bich a. WII Vrotk UCC C2 > We be wnanioniard ound baud or Lorvwndint Ww satisted . Cn Wa= C,+# te pe Price, ap consump oA UW Poriod 2 before tom ‘we ‘unpooed = 1 ee \+ DT fee re P, Ayers UNPEOU OW Of LOH on intereggt- meome a % Make Of ty, p ; hye tT (ere G-t.) u Thurs fo Wor invwaned « Cy te ciao Apes and 64 ih bier, Here Lay, T.E 7 G,Co + SE QT, Cad Wud» Cy b for nwo - Thr aeck om C0, dapends om M2 Helakiwe Sorung te of IE and SE. He Ot =7 SL for giwew W | Oo 2g B82 se | OPa2 0 * at. * | . Sues ley Eqprakiaw - Bor - oct — cy 2% Hore» Mew. aPo "ate lu aM ote | — e,. 002 ofa are \t& aM? uherw Mw we Wakims weal Herx2, HOW. gap WV U2 APR We tot Hoke, ti pads = ait m te whic Ww s Lads te ; eR jaowose Ww fas 1Ee>7 Qy,c2 SE 7 At, d ac, - acr oo ara * ara la 7 82 Sea a= Be CaM 70 20 rlokine are ign ef 2S aopende om WO . Ole ywpraDeiing we pore ¢ Strengths of we SE and IE- aCe c ace - c, OB =Wlith) GAcW B Suope = -Cl++¢ ops Wirth U-tyy Cy for ne red 10,0, folss - Thus 1E 2796. Fox He Yuan Je, % niow. Thus SEPIEL, Cape t * Movement fuew Pic Q@ > se LE Hovemank brow & v9 P Se Homemenk kon F be P’ = Prica Ceck Werr> 16788 - Se, Y Jaleo. 5 Sues te OLA ¢ | IMEMpPoOrat Fromricivy Sf (ey Foil, 1% = Ts = = (4) | os = A wy (Ci /e,) | | dA og. Clare) u =, Meg ae a bog (41) le Ausg Ue ry | a or Age | MGC. | blog ep 1% Avog P u | em ompendi hoe Juncteau |; ev Memagqonects ey. dopree. ae; 9e wv hewrogeneouo of dogrec. °. | oPi | iota. ar we homogeneous S} dogrre On | hem, OC: \ P. aoa ap au * he =o ac = OC2 p.2f ie * “ge + 7 “PE a> OC. \ y Ben | P.atege |G 3 veg F iS a7 9f ee a Sih: Oa. =O 34 a log P ac Blog F BeAr 7 2K | at. C2 log ee 0 log F & Bley P es SS —_ [ Boor ateg ce 3] ce - 2a | avgr |g = * =7 0WH Co = ge | o @ voy P uo” Buss P us Oe with Krttostiruse Pin PARLOKL COM _ _ = 7 + m7 Cd WOQcs | 3 og P a ae 4 P wre SOE | Pe Dupe — Peet 2 4 log P w 304 ¢ aie lege Pon ~ “Busy P a (25 } = bo b> Shore Of empendinwer wa nd pordiod Cu tata COVIALLUNp EL empendisurme. O< dda ee oo — ot a ~ m= Os. Susy t le 5 Be — Pr. % , Owe Cr . 3 sq a> Alogi oo o Po bo - ay No 1 ofc Qe as = &(T=N) 4 Te = = eer ies DET HP PT =7OL pH Wow TSW TTS PF > 0, [se sowings TN ains unchonged . Stioghttz Chap- fateh ai. (AHL ——aa 2 ne ~ SI] yt ett eo —- Show tat —tectli naaxiinwonng chracce of “ nara we puin— te —____=__—= _4 ae a tr 7s Crea) 7 Fea Ce o __ Derve “na ert_eboticely of aewuige. ™ ih (rsa) leg. Ce, - ce) Es ie paar nung Ab 0122. 2g. eneumpiion” pln. Wie 0, + ©2 oes = C a ove - OO i : = eh Ch) Gf - = (ttn)"e; : — NaN H+ (nye my) Ww mi Lt (1tn el — AS AA 14 Fh) 7 Sfx a - at wane 4 te 1+ {panel a leg Clr ~ Co) + Una) tog Cea) on Af het; 1th Cr -Co A t= a) Ui+A) C= Ce. C,——6. al, - al = (italfer-t - ats ate) SCS te Sate ats rk Sty = WGK FAG + > co (T=a +n an) _ o. (Jaa tra ona) = aCz St, = Ort I= enor) (1-a4Kk ~an) : el ay 7 7 a 7 We Ar + ee . TER at tol) + _. =F SO [iratnc ony TR Set, Fane, FeO) C44) 4 0g (Fata ar) — (FA) (T= Athan) 2 7 SSS Tye ee ee faa) th) See ey ee i = 0 te Cl ol th a4) Ui-a) Lita) Spe Wt ltt) Cy C2 har) ey te f= 2 ata) C-4 ita) i u fp = W(l-a)Citn) ~ Co (I-24 Aan) Ss eS —§ Hadweke_ onal Aeyteg | — Mel ~ pb.z ow UNaeretate aaye. unperco tart Sappaoc, gent Tp e poger ak by Waco yne ak bj rake and woge a) vate New, Ss CI- ke W- ey . rer pe c& +O Bhariges Un Sovivigs Wthn E enanges Or tw amit te -wWato ~-2ot..9M . Ante om Otw - 3c BF sey t ee ar v Ot ae -Wadtw — 9 (~ dep = 2S... Se at: eo nS Wee BP at = Wetter WwW. SEL kts — BEL. BF gt; OM aP Bki e 2» Wao Ci-~ BOL) ., BE BP Sue? Br Dk: 1 AkG = —-Wet pee EL Sie dtw ¢ —) BM SC, Proce Of Co, ~ eer PS a Pe Ae; Pe TR OReD : Be ci C Be, 5 se = = -Watw G-tap Dt, Uerd-*i9* —p (eM) a wh. dei = HP™ Naw, We GsMe Wak + and ty ox | PooLiva and I= §2 yy constoune re & : = dtvo = : see Ht ay Stw— = Aki aw atl Ye A = I- be rea piveOG by des toe get ew Cl= tw > (t-ne Sid ~ BOr= ND ey WIP ae: 2 - WOH tw) Oy ee “ - aD blr = v1 ©, UPD Dived = ive oE9 by Ma Cl-tuow » Wo qe + asa - [or-asn thee 1) SL Ci— b>) ae: on “AS Sis) SSE by a bo (p pesitinee— negorine Yt _ oO, ce t [in M@En ae BC 1) SLi p>] ro i and bividing korn Steuns by Ss M _~ yt + b(@—MND Ci- pd roe G1 | <& M [e eet -W+ 36 Ci-po— ane PZ 6 I = re on Lis sQi-pI] + arp > 6 ~~ oe 1 [ie bl-bp d4ae CPD F0 l- & ey eo oF be HPD er NLi+sC- pr] 1 S@ YY eenctitican G we Gata c fe and ty dhw Grre. neqatime drew S WUL inc, 4 a vay 5 and view ver : wo Catatr ~ Pow aun ae, at Vac Udaletay yee Hacer o = 7 oie EC ED Ane inexs ane wm FL and to WL Madu | SAWN: mw Lit ad bo] = y wm hetds , nen =r aS 20 fer Ate dto ro Swit fau. erm zek= Fsbo ZB, ee > | =z a =o? NM Piet (1-49) =y 2 ae 12 > Se ee ele 2.) =7 2, 4 —— 2-5 7 ul zi ~~ AE y 12 ws 7M Te > y< texte! Be 1 34 y= gun comunodties 23 ie . a “ee 23 7.2094 (atale, tom ~ Skat ee nt “ Ly ge? octuallag bearing tne tan lowedon —> =o incidence i ene of tension ung Hae commediry trade te chy | ong a mes | uaracee price = 9 7 price paid leaf ht Constungies b> prece maceined teig Yan Shige g-k = (geet | te wee ence tom por unit Sf os. fasekios exyuilivrbuun framauiorte : as Airwe goods K ond § 4 Deke tomadk and Ye un a UUM arLQew conmnsditg 5 U(X, VD. a 6. Firms asea price kore F.o(s) unite Of Y w used te P ~ = “Sunita Co 8. LSD 70 and CCS) FO, ier He coy | Of pn dH. Ww inersacing and Conver a, Probit: of we fourm WA HAs pre tare puice, p ww pes - ets? 10. "Mrs. Supply findien ef x in quan by b= ws). Pre Casticiy Cf he 2 (én) -_ 2P/od = - 364 ed arse a leg P i chaotic cae Cés) Price ohacticity af ey aa 3S/s _ pees ar/P “Siege eure condruiorwn + bout Gz s() = boPp+e) oe 28 an | Feynman ae incidences. G4 | | i tomatieuw en consume) Tan urposed en consumer TH Ee Ag price. Sf 22-9, Hare ‘w Emeosr Supply ine marderk 2 poops dawnand 7s wit ands pudncer pery 1800 Unita | Coy deilouwn ‘w taadhad ak ©- | guaaihy tmught and sold “N08 | consumers pay = 27 Producers gee = 195 Ton paid te yovb. = 4F | Feu ow dar en COMMUNE = 94 - 225 FAD Ay ~ eyne, WUBI OME PROGACENS Ap = 2209 18 = 4 Aba* 4P = 3-5 : idence Of LOMEALOrK WY Wet Hae | cone an Hae ecomowle ‘neidence e¢ Pracdircerr . fice . Av pruce = 22.5, oe . 24 [- 3 > Mrona io encesd —% 206 Romomnd ad weVRUNeY 14.6 f Remand 1300 units and producers mupply 0 400! 400 units: Equi U loin Ww meachad at 0, Quansiry baught ond sad = 00 Commammn Pay = 2 PreducQrs ek = lars Tan bs Gove - FRG 1 |GO0 Gem Tan burdar On comma, Aq = 4:9 Tom bucden on produwre ,Ap = 3 oe ba + 4P = 2S The tom burda OU CYEUMAM and Produced remains We Same wheter, dno TOR DW LNpPSoed an Praducercs ex | Coruna . 9 LAD OD Sake fopende on tire | SEPLY and demound 419.2024 Tan an commeditier + Pradircoss’ price = P Corstumeses’ pruce = Y Teper’ 7 ton Pee Une Bdpr &) = Spr Differentiating wrk P: BP (ia Be _ os ay ae? “Se avis Se. O80 arfayg Se Seek | at ar/ay — Oe ee abd/dq a7 27 ae Maw ee oe AaS/ae —eP/ay Thi We Bnd don co ap rtonatiow aw Pra dread ga ee oY _ “Stag + 2S/ae - Me aSae — 22/aq, as/far as/ap — ©>/3¢ Gnetastic demand ° pretacic DHp RLY A ea oe Bate Oe ow Cereus 4 oun produced CTom was impored (tam war en prestucases) | Fox simpuccry . We Adare consort | essr indurery And Nance, a horigentcat | Sp py CWHN] - | | Wence, we WU net hove We Pra ctncet Quseplird « Sg Arounge Qnty Corrsumnas< susuplus ib cOnrcchlerr ed. ey S+e eae - % s 6 po CE } Q, 8 & ACS = agep, Gevt.’s tan Kevenus = 0+ CYFL bo Dd lors 9 Adek Thin wD ws Was af es a 5 nak Ao +e ee Hina produce ox tne Gove. tis baat lg Thin wo Hae DWL Que te Unpastwan of cornea ditty tar. A det = £ x AQKE e, -« AQ. . Awe. E ap = @ =r AQ = \en \-aP. o- =: 2p \-¥ -&P.Q Ady = \eo a Cowl)

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