Micro diagrams Flashcards
(21 cards)
1
Q
PPF diagram
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2
Q
Consumer Surplus
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3
Q
Producer Surplus
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4
Q
Price elasticity of demand
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5
Q
Price elasticity of supply
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6
Q
Negative externalities of production
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7
Q
Positive externalities of consumption
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8
Q
Indirect taxes
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9
Q
Rent controls (max price)
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10
Q
Primary product control (minimum pricing)
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11
Q
Profit max
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12
Q
Satisficing
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13
Q
Price taking vs price setting
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14
Q
LRAC curve
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15
Q
Perfect competition in the short run vs long run
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16
Q
Shut down point
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17
Q
3rd degree price discrimination
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18
Q
Kinked demand curve (oligopoly)
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19
Q
Elasticities of labour
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20
Q
Minimum wage’s effect on labour
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21
Q
Lorenz curve
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