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Condensed Textbook 2

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Condensed a 400+ pages boring textbook to 53 pages. Enjoy.

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This certainly beats reading the textbook all over again. Nice notes!

But I think I have a problem with this line: "Marginal costs of production. Mobility of CELL and unused capacity. Cheaper to produce

~> produce more ~> lower PES"
Doesn't more mobile factors of production mean that an increase in price will lower output proportionately more. So hence, greater PES.

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This certainly beats reading the textbook all over again. Nice notes!

But I think I have a problem with this line: "Marginal costs of production. Mobility of CELL and unused capacity. Cheaper to produce

~> produce more ~> lower PES"
Doesn't more mobile factors of production mean that an increase in price will lower output proportionately more. So hence, greater PES.

The more mobile the factors of production are, the less it costs and the cheaper it is to move it from one productive use to another. eg, an industrial sewing machine is not as mobile as a standard sewing machine

Would have replied sooner if I knew people could comment on my files :

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Used this summary for my 2015 IB exams and ended up with a 6 in Econ HL. As long if you study these notes along with the skills book (calculations) you will be absolutely fine. Cheers!

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