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Decks in this class (10)
Chapter 6
Long run atc 1,
Law of demand def 2,
Elastic demand 3
36
cards
Chapter 5
What is a market failure 1,
3 associations of market failures 2,
Demand side market failure 3
14
cards
study session
Formula for average varible cost ...,
Formula for average fixed cost afc 2,
Fixed inputs 3
7
cards
Chapter 7
What is market structure based of...,
Formula for total revenue 2,
Formula for average revenue 3
45
cards
Chapter 8: pure monopoly
What does it mean to be a price m...,
What causes blocked entry in a mo...,
What is a patent 3
14
cards
Chapter 1: Limit, Alternatives, and Choices
What is opportunity cost 1,
What is purposeful behavior in te...,
What is scarcity and choices in t...
27
cards
Chapter 2: The market System and Circular Flow
3 fundamental economic question 1,
What to produce 2,
How to produce 3
34
cards
Chapter 3: Demand, Supply, and Market Equilibrium
What does the demand curve tell us 1,
What is a consumers willingness t...,
What determines ability to consume 3
36
cards
Chapter 4: Elasticity of Demand
Price elastic 1,
Price inelastic 2,
Formula 1 for price elasticity of...
42
cards
Chapter 10: Wage determination
Wage takers 1,
Employers in competitive labor ma...,
Workers in the competitive labor ...
14
cards
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APEC 1101
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