Topics Flashcards
1
Q
Perfect competition
A
1) identical
2) no restrictions entry
3) many
4) price taker
- perfectly elastic
(MR=MC) Long run short run ATC
2
Q
Monopoly
A
1) identical
2) barriers entry
3) price setters
4) 1
- elastic
- price discrimination (MR=MC up D)
3
Q
Oilopoly
A
1) identical (dif)
2) barriers
3) some influence price
4) some
- games laws
4
Q
Monopolistic competition
A
1) differentiates (substitute)
2) no restrictions entry
3) some influence
4) many
- product development
5
Q
Monitoring jobs & inflation
A
- dif stages
- 3%
- how links GDP
- PI (cost new/old)
- inflation
- bias (quality how good)
- consequence (pension, IR Banks)
6
Q
Measuring GDP and Economic Growth
A
- market value (P*Q) time final country
- Circulat flow = ahh income = expensive
- nominal real GDP base P ref year
- limitations (under,house,lesser,env)
7
Q
Public choices & public goods
A
- private / public (demand supply)
- priv public (free rider) common (traj) nat monop
- ineff overpriced B persuade her more votes
- D=M(P)B DWL MSB S=MSC
- gov voucher private subsides public production
8
Q
Economics of the environment
A
- c02 MSC = MEC + M(P)C how get social
- prop tech tax pros quested
- traj commons unsustainable inefficient
