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14.01x Microeconomics

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

By: Sarah Martin
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Decks in this class (11)

Supply and Demand
Three fundamental questions of ec...,
Theoretical economics vs empirica...,
Positive vs normative economics 3
87  cards
Consumer Choice
Consumer theory underlies 1,
Producer theory underlies 2,
Two key components of utility max...
56  cards
Production Theory
Production function 1,
Marginal product 2,
The marginal product of labor 3
53  cards
Competition
Perfect competition 1,
Demand is perfectly elastic when 2,
Long run cost curve 3
53  cards
Welfare Economics
Welfare economics 1,
Compensating variation 2,
Consumer surplus 3
12  cards
Monopoly
Total revenue 1,
Average revenue 2,
Marginal revenue for a monopolist 3
36  cards
Oligopoly
Oligopoly 1,
Cooperative oligopoly 2,
Non cooperative oligopoly 3
25  cards
International Trade
Autarky 1,
Trade deficit 2,
Comparative advantage 3
21  cards
Uncertainty
Expected value 1,
Fair gamble 2,
Expected utility 3
18  cards
Capital Supply and Capital Markets
Intertemporal choice 1,
What could we say capital represe...,
Capital market 3
36  cards
Equity and Efficiency
Equity efficiency tradeoff 1,
Leaky bucket 2,
Perfect competition is ______ eff...
40  cards

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14.01x Microeconomics

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