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post #46 of 47
Oh that makes perfect sense actually. I've never thought of marginal revenue as the differential of total revenue. I'm pretty sure every course involving introduction to econ at LSE involves some maths course. I think some of the less maths focused courses have you do applied mathematics, but I have to take linear algebra and calculus and the calculus is a fairly high level. Doing vector differentials right now, can't imagine you need that high a level of calculus for introduction to micro.
post #47 of 47
Anyone want to explain what the credibility condition is to me? The book we get taught from isn't a course book, it's just a book the lecturer liked, doing the required reading and its talking about the credibility condition in regards to game theory, but thats in a part of the book, which isn't required reading. Hate this aspect of the course, reading about oligopolys last week and the kept mentioning cartels, which isn't part of the course.

edit: never mind read up on it, seems pretty obvious, don't see why you need an actual rule for it.
Edited by fuji - 12/26/12 at 3:12pm
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