diagram booklet Flashcards
1
Q
equilibrium
A
p1
2
Q
disequilibrium
A
p1
3
Q
increase in demand
A
p2
4
Q
decrease in demand
A
p2
5
Q
increase in supply
A
p3
6
Q
decrease in supply
A
p3
7
Q
price ceiling
A
p4
8
Q
price floor
A
p4
9
Q
consumer surplus
A
p5
10
Q
producer surplus
A
p5
11
Q
positive externality consumption
A
p6
12
Q
positive externality production
A
p7
13
Q
negative externality consumption
A
p8
14
Q
negative externality production
A
p9
15
Q
indirect tax
A
p10
16
Q
producer subsidies
A
p11
17
Q
monopoly
A
p12
18
Q
how to work out costs
A
p14
19
Q
law of diminishing returns
A
p15
20
Q
relationship between fixed and variable costs
A
p15
21
Q
u-shaped LRAC
A
p17
22
Q
l-shaped LRAC
A
p17
23
Q
ar + mr curves (1 for perfect comp and 1 for monopoly)
A
p19
24
Q
profit max point
A
p19
25
market structures continuum
p21
26
perfect competition in LR
p21
27
LR monopoly position
p23
28
3rd degree price discrimination
p23
29
different business objectives
p27
30
lorenz curve
p32
31
circular flow of income
p35
32
economic cycle
p35
33
long run growth
p36
34
demand pull inflation
p36
35
cost push inflation
p37
36
quantity theory of money
p37
37
comparative advantage
p41
38
deadweight loss of monopoly
p42
