Reading 16: The Firm and Market Structures Flashcards by Jack D | Brainscape

Q

Marginal Revenue

The Firm and Market Structure

16.x

A

Substitute (Qd + delta Qd)

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Q

Price Elasticity of Demand

The Firm and Market Structure

16.x

A

E_p > 1 Demand is elastic

E_p = 1 Demand is unitary elastic

E_p < 1 Demand is inelastic

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Q

Cross-Price Elasticity of Demand

The Firm and Market Structure

16.x

A

E_x > 1 Demand is elastic

E_x = 1 Demand is unitary elastic

E_x < 1 Demand is inelastic

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Q

Relationship Between MR and Price Elasticity

The Firm and Market Structure

16.x

A

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Q

Perfect Competition Marginal Revenue

The Firm and Market Structure

16.x

A

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Q

Average Cost

The Firm and Market Structure

16.x

A

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Q

Marginal Cost (simple)

The Firm and Market Structure

16.x

A

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Q

Demand Relationship in Monopoly Markets

The Firm and Market Structure

16.x

A

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Q

Marginal Revenue Given a Linear Demand Curve

Monopoly

The Firm and Market Structure

16.x

A

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Q

Marginal Revenue w/ Price Elasticity

Monopoly

The Firm and Market Structure

16.x

A

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