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microeconomics

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

By: Amely Bostoen
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Decks in this class (23)

Formulas and symbols
0  cards
chapter 1: introduction
Def economics,
Def microeconomics,
Externality problem
19  cards
chapter 2: budget constraint
Composite good,
The budget line,
The numeraire
8  cards
chapter 3: Preferences
Consumer preferences,
Weakly preferred set,
An indifference curve
16  cards
chapter 4: utility
A utility function,
Ordinal utility,
Monotonic transformation
13  cards
chapter 5: choice
The economic model of consumer ch...,
Necessary condition for optimality,
Is the tangency condition a suffi...
19  cards
chapter 6: demand
Marshallian demand functions,
Comparative statics,
Normal good
19  cards
chapter 7: slutsky equation
Substitution effect,
Income effect,
Pivot line
18  cards
Chapter 9: Uncertainty
A probability distribution,
The expected value,
The variance
22  cards
Chapter 10: Consumer’s surplus
Quasilinear utility,
Compensating variation cv,
The equivalent variation ev
4  cards
Chapter 11: Market demand
The price elasticity of demand,
Market demand def,
When will an increase in price re...
6  cards
Chapter 12: Technology
A technology,
Production set,
Production plan
13  cards
Chapter 13: Profit maximization
Competitive markets,
A fixed factor,
A variable factor
11  cards
Chapter 14: Cost minimization
Comparative statics analysis of c...,
An expansion path,
A normal input
11  cards
Chapter 15: Cost curves
The average cost function,
The marginal cost curve,
Long run costs
4  cards
Chapter 16: Firm supply
Technological constraints,
Market constraints,
Demand curve facing a firm
8  cards
Chapter 17: Industry supply
Free entry,
Long run industry suppl,
What are the possible equilibria ...
3  cards
Chapter 18: Exchange
A partial equilibrium analysis,
General equilibrium analysis,
Pareto improving allocation
17  cards
chapter 8: intertemporal choice
The budget constraint,
The present value form is,
Present value
7  cards
chapter 19: asymmetric information
Asymmetric information,
Example the market for lemons out...,
Adverse selection
14  cards
chapter 20: monopoly
A monopoly,
A monopolized industry operates w...,
A natural monopoly
5  cards
chapter 21: monopoly behavior
Price discrimination in monoply,
First degree or perfect price dis...,
Definition of price discrimination
7  cards
chapter 22: oligopoly
Oligopoly,
In oligopolistic markets,
Oligopolistic firms are interdepe...
15  cards

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microeconomics

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