Class 11: Supply, Demand, and the Consumer

Textbook reading: Kreps, Chapter 13, all of it (it is short), including the GM case in 13.5 and Problem 13.1. Then skim Chapter 10: read 10.1, 10.2, and 10.5 properly, and read 10.3 and 10.4 only for the idea of bang for the buck and money left over. Every derivative in Chapter 10 becomes a table of incremental values in this course, exactly as in Lab 5, so skip the algebra on pages 227 to 234 entirely.

📚 These class notes will be published here after class.