Microeconomics Flashcards

Decks in this Class (19):

• Economic Methodology Scarcity Choice And

  Economic methodology, scarcity, choice and gains from trade

  Sample Cards:

  what is scarcity,

  describe the efficiency vs equity trade,

  decisionsrequire
  41 Cards
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• Producer Surplus

  producer Surplus

  Sample Cards:

  profit,

  producer surplus equals
  2 Cards
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• Intro To Supply And Demand

  intro to supply and demand

  Sample Cards:

  does the price shift the,

  when the price is too low there is a,

  when the price is above equillibrium the
  28 Cards
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• Elasticity

  elasticity

  Sample Cards:

  what is,

  what is inelastic demand,

  how to calculate the elasticity of deman
  47 Cards
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• Consumer Behaviour And Demand

  consumer behaviour and demand

  Sample Cards:

  what is marginal utility,

  marginal utility will,

  describe how utility can be used to rank
  35 Cards
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• Firm Behaviour And Supply

  Firm Behaviour and Supply

  Sample Cards:

  in a competitive market any indi vidual,

  a competitive market is where,

  describe decreasing marginal product of
  12 Cards
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• Markets And Efficiency

  Markets and Efficiency

  Sample Cards:

  describe pareto efficient,

  hree conditions for efficient outcomes,

  what is an attractive feature of
  52 Cards
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• Costs Of Production

  Costs of production

  Sample Cards:

  describe mr mc,

  law of,

  how do you calculate marginal cost
  70 Cards
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• Entry Exit And Industry Supply

  Entry, exit, and industry supply

  Sample Cards:

  free entry and exit of firms in an indus,

  how does entry and exit of firms affect,

  was is a competitive market
  11 Cards
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• Monopoly

  Monopoly

  Sample Cards:

  why is mr less than demand for,

  what is a monopoly,

  what does a monopolys graph look like an
  55 Cards
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• Product Differentiation Monopolistic Com

  Product differentiation, monopolistic competition and oligopoly

  Sample Cards:

  what,

  firm with perfect competition looks like,

  in the perfect competition price elastic
  59 Cards
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• Labour Markets

  Labour markets

  Sample Cards:

  what is the profit maximisation rule for,

  how do you add a minimum wage,

  number of workers fired as a result of m
  14 Cards
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• Taxes And Transfers

  Taxes and transfers

  Sample Cards:

  the government adds a 2 tax,

  new card,

  who pays the tax
  3 Cards
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• Week 7

  week 7

  Sample Cards:

  what is the total economic cost,

  implicit cost of capital is the,

  what are the possibilities of financing
  32 Cards
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• Week 8

  week 8

  Sample Cards:

  what is price discrimination,

  why does d slope down,

  what is first degree price discriminatio
  25 Cards
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• Week 9

  Week 9

  Sample Cards:

  describe oligopolic,

  what is dominant strategy,

  what is nash equilibrium
  32 Cards
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• Week 10

  week 10

  Sample Cards:

  graph labour market,

  graph capital market,

  demand for physical capital is
  54 Cards
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• Week 11

  Week 11

  Sample Cards:

  what is an externality,

  what is a negative externality,

  what is the market outcome
  53 Cards
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• Week 12

  week 12

  Sample Cards:

  common resources are,

  what is tragedy of commons,

  why is there inefficient overuse of comm
  41 Cards
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