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ECON1101 Final

This class was created by Brainscape user Keeley McGee. Visit their profile to learn more about the creator.

By: Keeley McGee
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Decks in this class (10)

6.1 Production Theory
What is firms overriding goal,
What is profit,
Define explicit costs
14  cards
6.2 Cost Theory
Formala for total cost,
Define marginal cost,
Formula for mc
11  cards
7.1 & 7.2 Perfect Competition
What dsitinguies each market,
What are the three mechanism degr...,
What occurs the greater degree of...
25  cards
7.3 Perfect Competition and Efficiency
What are the three measures of ef...,
What is 1 productive efficiency,
What determines whether something...
11  cards
8.1 Monopoly
Characteristics for monopoly,
How can government block entry of...,
Besides market barrier what are t...
12  cards
8.3 Price Discrimintation
Define price discrimination,
Conditions for price discrimination,
Describe perfect price discriimai...
8  cards
9.1 Monopolistic Competition
Characteristics of monopolistic c...,
Why are the short run elastic,
Difference for short and long run...
18  cards
10.1 Oligopoly
Deinfe oligopoly,
Characteristics of,
What are barriers to entry for ol...
12  cards
11. competition policy
Three ways gov uses act in markets,
How does gov make market more compet,
Define natural monopoly
7  cards
efficiency
In perf comp what is status of 3 ...,
In mono what is status of 3 effic...,
In mono comp what is status of 3 ...
9  cards

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ECON1101 Final

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