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Microeconomics

This class was created by Brainscape user Birgit Ernø-Kjølhede. Visit their profile to learn more about the creator.

By: Birgit Ernø-Kjølhede
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Decks in this class (10)

Chapter 3 - Market Analysis
Define consumer and producer surplus,
What is the demand choke price ho...,
What is the supply choke price ho...
24  cards
Chapter 2 - Supply and demand
There are four key assumptions un...,
Complements and substitutes of a ...,
What simplifying assumption do we...
30  cards
Chapter 4 - Consumer behaviour
We make four assumptions about pr...,
What does the term utility mean h...,
Define indifference curve what do...
19  cards
Chapter 5 - Individual and market demand
1 define the income effect what v...,
2 what are the differences betwee...,
3 both the income expansion path ...
15  cards
Chapter 6 - Producer behaviour
1 what are the differences betwee...,
2 what does a production function...,
3 what is the difference between ...
19  cards
Chapter 7 - Costs
1 what is the difference between ...,
2 define opportunity cost how doe...,
3 what is the sunk cost fallacy
35  cards
Chapter 8 - Supply under perfect competition
1 economists categorize an indust...,
Name the three criteria economist...,
2 why does a perfectly competitiv...
30  cards
Chapter 9 - Market power and monopoly
1 when does a firm have market power,
Define monopoly and monopolist,
2 name and describe five barriers...
35  cards
Chapter 10 - Market power and pricing
What is a pricing strategy,
1 define price discrimination wha...,
2 why is producer surplus maximiz...
21  cards
Static strategic interaction
What is game theory,
What is a strategic decision,
What is a simultaneous game
35  cards

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Microeconomics

  • Class purpose General learning

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