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ishika pun
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Decks in this class (21)
S+D
Demand for a good depends on,
What is endogenous,
Supply depends on
10
cards
Preferences
What is the symbol for if a consu...,
Symbol for strictly prefers a to b,
Symbol for indifferent between a b
14
cards
Utily Functions
What is a utility function u x,
What does utility functions allow,
What are the two types of utility...
21
cards
Budget Constraints And Consumer Choice
Assumptions for budget constraints,
If there are only two goods and y...,
What is the slope of the budget c...
23
cards
Price And Income Changes
Draw me substitutes in consumptio...,
Draw me price increase of a compl...,
Draw me complements in consumption
21
cards
Income And Substitution Effects
Two parts of the total change in ...,
What is the substitution effect,
What is the income effect
26
cards
Elasticity
What does ped measure,
Why can t we use the demand curve...,
What is elasticity
26
cards
Compensating & Equivalent Variation In Income
How can we measure the welfare im...,
Can we simply compare the amounts...,
What do we do if we can t compare...
29
cards
Labour Supply
What are an individuals consumpti...,
Theory of consumer choice can be ...,
What do we assume for individuals...
14
cards
Altruism
Explain the dictator game experim...,
What are the factors that affect ...,
What was the andreoni and miller ...
4
cards
Production Functions
What are firms,
What do we assume about firms,
Profit formula
58
cards
Costs
How are economic costs different,
What is an implicit cost,
What is an explicit cost
42
cards
Supply
What is profit,
To maximise profits firms must an...,
Mathematically when are profits m...
31
cards
Perfect Competition
Assumptions of perfect competition,
Assumptions of perf comp more lik...,
Draw a derived demand curve
12
cards
Monopolies
What is a monopoly,
Why do monopolies arise,
What are the cost advantages a mo...
25
cards
Price Discrimination
A firm engages in price discrimin...,
Three types of price discrimination,
Why do firms price discriminate
13
cards
Monopolistic Competition
What is monopolistic competition,
What are the assumptions of monop...,
Assumption that sellers have mark...
9
cards
Game Theory
The most important tool for analy...,
What is game theory,
What are payoffs
10
cards
Oligopoly
What is an oligopoly,
Oligopoly assumptions,
Firms in an oligopoly can either ...
28
cards
Externalities
What is an externality,
In the presence of externalities ...,
Why are externalities inefficient
40
cards
Asymmetric Info
What are the two main types of as...,
What are hidden characteristics,
What are hidden actions
29
cards
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Micro
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