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Principles of Microeconomics (18ECA002) Semester 2

This class was created by Brainscape user Leon Gogiqi. Visit their profile to learn more about the creator.

By: Leon Gogiqi
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Decks in this class (14)

L14 - Perfect Competition
What are the two rules of profit ...,
What are the assumptions of perfe...,
Why does the equilibrium change i...
9  cards
L15 - Monopoly
What is a monopoly,
What are the assumptions,
Where does a monopolist achieve s...
8  cards
L16 - Price Discrimination
What is price discrimination,
What are the conditions for price...,
What assumptions are involved
10  cards
L17 - Monopolistic Competition
What are the assumptions of monop...,
What are the types of product dif...,
What does it mean that sellers ar...
9  cards
L18 - Game Theory
What is game theory,
What is a payoff,
What is a simultaneous move game
11  cards
L19 - Quantity Setting Oligopoly
Who are the main theorists behind...,
What are the assumptions of oligo...,
Whats the market structure of oli...
7  cards
L20 - Price Setting Oligopolists
What was bertrands reasoning for ...,
What are the assumptions for bert...,
When is there a nash equilibrium ...
10  cards
L21 - Collusion
What are the conditions for oligo...,
What is the grim trigger strategy...,
What do we use to find out the na...
12  cards
L22 - Perfect Labour Markets
What are the inputs required to m...,
What happens to the inputs in the...,
What are the two main costs of wo...
17  cards
L23 - Imperfect Labour Markets
What is a monopsony,
When are employees wage makers,
What are the assumptions behind a...
12  cards
L24 - The Efficiency of Markets
What are the two main components ...,
What is productive efficiency,
What is allocative efficiency
11  cards
L 25 - Externalities
What is market failure,
What are the characteristics of m...,
How should a social planner corre...
6  cards
L26 - Public Goods and Common Resources
What are rivalrous goods,
What are the three categories of ...,
What are non rivalrous goods
20  cards
L27 - Information
What happens when consumers have ...,
What happens when consumers have ...,
What is imperfect information
11  cards

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Principles of Microeconomics (18ECA002) Semester 2

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