Decks in this Class (16):

Practice
Practice
Sample Cards:calculating accounting profit,calculating economic profit,calculating economic profit for a firm9 CardsPreview Flashcards 
A
A
Sample Cards:calculate accounting profit economic nor,interpret accounting profit basic profit,calculate economic profit abnormal prof10 CardsPreview Flashcards 
B
B
Sample Cards:calculate total revenue,interpret total revenue,calculate average revenue9 CardsPreview Flashcards 
C Describe A Firms Factors Of Production
C Describe a Firms Factors of Production
Sample Cards:factors of production,factors of production,factors of production18 CardsPreview Flashcards 
D Calc And Interp Total Average Marginal
D Calc and Interp total, average, marginal, fixed, and variable costs
Sample Cards:total cost,total cost,total fixed cost21 CardsPreview Flashcards 
E Determine And Describe Breakeven And S
E Determine and Describe Breakeven and Shutdown Points of Production
Sample Cards:short run,long run,shutdown and breakeven points under perf5 CardsPreview Flashcards 
F Describe Approaches To Determining The
F Describe approaches to determining the profitmax level of output
Sample Cards:perfect of imperfect competitors will ma,profit max under perfect comp,profit max under imperfect comp downward3 CardsPreview Flashcards 
15 G Describe How Economies Of Scale And
15 G Describe how Economies of Scale and Diseconomies of scale affect costs
Sample Cards:economies of scale slope price reduction,diseconomies of scale slope price increa2 CardsPreview Flashcards 
H Distinguish Between Sr And Lr Profit M
H Distinguish between SR and LR profit max
Sample Cards:distinguish between sr and lr profit max1 CardsPreview Flashcards 
I Distinguish Among Decreasing Cost Cons
I Distinguish among decreasingcost, constantcost, and increasing cost industries and describe the longrun supply of each
Sample Cards:an increase in demand that results in an,resource prices fall as the industry exp,input prices neither increase or decreas6 CardsPreview Flashcards 
J Calculate And Interpret Total Marginal
J Calculate and Interpret total, marginal, and average product of labor
Sample Cards:for a productin process w a fixed amount,total product measure in analysis,average product in analysis4 CardsPreview Flashcards 
K L Describe The Phenomenon Of Dmr And C
K,L Describe the phenomenon of DMR and calc and interp profitmax utilization level of an input and optimal cost min combo
Sample Cards:dmr,calc and interp profit max utilization l,cost min doesnt tell us the quantity of3 CardsPreview Flashcards 
A Calculate Interpret And Compare Accoun
a calculate, interpret, and compare accounting profit, economic profit, normal profit, and economic rent;
0 CardsPreview Flashcards 
B Calculate And Interpret And Compare To
b calculate and interpret and compare total, average, and marginal revenue;
0 CardsPreview Flashcards 
C Describe A Firm S Factors Of Productio
c describe a firm’s factors of production;
0 CardsPreview Flashcards 
L Determine The Optimal Combination Of R
l determine the optimal combination of resources that minimizes cost.
0 CardsPreview Flashcards
Current Learners (1)
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