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Theory Of The Firm 1 (MiA2)

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

By: Sanjidah Ahmed
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Decks in this class (7)

Marginal Utility
Marginal principle,
Marginal utility,
Law of diminishing marginal utility
5  cards
Costs in the Short-run
Why do firms operate in a market,
Total fixed costs,
Total variable costs
11  cards
Costs in the Long-run
Long run,
Internal economies of scale,
Types of economies of scale
11  cards
Revenue
Total revenue,
Average revenue,
Price makers
11  cards
Profit
Profit,
Unit profit,
Normal profit
9  cards
Barriers to Entry
Barriers to entry,
Why might it be difficult for new...,
Barriers to exit
4  cards
Efficiencies
Productive efficiency,
Allocative efficiency,
What is the condition for allocat...
10  cards

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Theory Of The Firm 1 (MiA2)

  • Class purpose General learning

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