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16 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Natural monopoly |
Firm that can produce the entire output of the market at cost lower than what it would be if there were several firm |
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Perceived dd curve |
The increase in quantity demanded of a product of a firm when a firm cut down its price at present lvl |
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Proportional demand curve |
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Production possibility curve |
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Collusive oligopoly |
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Monopsony power |
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Mrp |
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Economic rent |
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Adverse selection |
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Moral hazard |
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Non price competition |
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Price discrimination is possible |
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Cartel |
MR-MC1-MC2 |
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Porato optimality |
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Quasi rent |
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Adding up problem |
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Total produce l nd k are paid equal reward to their marginal product the total product will just be exhausted with no surplus or deficits |
