AM06 Firms

This lecture will cover Chapter 5: THe Firm of Hill and Myatt Economics Anti-Textbook from page 93 to page 117.

Sample Question for Final:

Find THREE predictions about firm behavior (regarding cost functions, profit maximization, etc.) that are made by microeconomic theory. Provide TEXTUAL evidence (writing from textbooks which makes these claims).

Find real world observations about firms which show that these predictions are wrong.