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Jenna Bryant
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Decks in this class (25)
An Economist's View of Cost and Profit 7.1-1-Jenna Bryant
What type of profit uses only exp...,
What type of profit calculates op...,
What are sunk costs 3
12
cards
Production in the Short Run 7.2-1-Jenna Bryant
What is output 1,
What is another name for output 2,
What are resources that a firm us...
12
cards
Production in the Short Run 7.2-2-Jenna Bryant
What is the total product tp curve 1,
What is marginal product mp of la...,
On the total product curve as lab...
15
cards
Production in the Short Run 7.2-3-Jenna Bryant
Where does the marginal product c...,
What is the marginal product curve 2,
What happens to the marginal prod...
12
cards
Production in the Short Run 7.2-4-Jenna Bryant
What is average product 1,
What is another name for average ...,
What is the formula for average p...
12
cards
Short-Run Costs 7.3-1-Marie Smith
What are the costs of production 1,
What are variable costs 2,
What are the two things you need ...
12
cards
Short-Run Costs 7.3-2- Marie Smith
What will the variable cost curve...,
On a two dimensional graph variab...,
What will be on the horizontal ax...
12
cards
Short-Run Costs 7.3-3- Marie Smith
What is the marginal cost of prod...,
Define marginal cost mathematical...,
How do you find the change in tot...
12
cards
Short-Run Costs 7.3-4- MarieSmith
Marginal cost curve is a mirror i...,
When graphing the marginal cost c...,
What goes on the horizontal axis ...
14
cards
Short-Run Costs 7.3-5- Marie Smith
Marginal product is the extra out...,
What is the input that can be cha...,
What is marginal cost 3
13
cards
Short-Run Costs 7.3-6 Hunter Parrott
Average variable cost 1,
Avc calculation 2,
Does avc determine if the output ...
12
cards
Short-Run Costs 7.3-7 Hunter Parrott
What is mc 1,
When mc is below ___ mc pulls the...,
When mc is ______ avc mc is pushi...
12
cards
Short-Run-Costs 7.3-8 Hunter Parrott
_____ ___ is a brief period of ti...,
____ ____ are inputs in the produ...,
Machinery and factories are examp...
14
cards
Short-Run Costs 7.3-9 Hunter Parrott
Atc 1,
If tc is not available use this f...,
Tp 2 tc 11 000 atc 3
12
cards
Short-Run Costs 7.3-10 Hunter Parrott
The average cost curves summarize...,
The _____ curves are mirror image...,
The important average cost curves...
15
cards
Production and Cost in the Long-Run 7.4-1
In the long run 1,
How does the long run differ from...,
There are 2 decision that a firm ...
12
cards
Total Revenue 8.2-1
What is total revenue 1,
Curve of a total revenue graph 2,
Total revenue curve shows you 3
12
cards
Perfectly Competitive Market 8.1-1
What is market power 1,
What is one way you know that a f...,
What is the second way you know t...
13
cards
Short-Run Profit Maximization 8.3-2
The rule for profit maximization 1,
What happens when marginal cost i...,
What happens after marginal cost ...
13
cards
Short-Run Profit Maximization 8.3-3
Maximizing profits 1,
What is profit 2,
What is profit per unit 3
12
cards
Short Run Costs 7.3-8 ~ Benjamin Rainwater
The short run is 1,
Fixed inputs are 2,
Variable inputs are 3
12
cards
Short Run Costs 7.3-1&2 ~ Benjamin Rainwater
Variable costs vc are 1,
To calculate the variable costs v...,
To calculate the variable costs v...
12
cards
Short Run Costs 7.3-11 ~ Benjamin Rainwater
An increase in the price of the v...,
When variable price increases do ...,
An increase in the price of the f...
12
cards
Production and Costs in the Long Run 7.4-1 ~ Benjamin Rainwater
The long run is 1,
A capital intensive technology is 2,
A labor intensive technology is 3
12
cards
Production and Costs in the Long Run 7.4-2&3 ~ Benjamin Rainwater
If a firm s output increases by t...,
If a firm s output increases by a...,
If a firm s output increases by l...
12
cards
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Econ 2106 Exam 2
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