Micro Diagrams Flashcards
(69 cards)
Movements along a PPC
Shifts of a ppc
usefulness of opportunity cost using a PPC
The relationship between price and quantity demanded
individual and market demand
Movements along the demand curve
Shifts of the demand curve
The relationship between price and quantity supplied
Individual and market supply
Joint and competitive supply
Movement along the supply curve
shifts of the supply curve
consumer surplus
Effects of change changes in price on consumer surplus
Producer surplus
The effects of changes in price on producer surplus
The interaction of demand and supply
market equilibrium and disequilibrium
different values of ped
relationship between PED and a firms total revenue
different values of YED
different values of XED
Different values of PES
different values of XED