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microeconomics - 271 EXAM ABSOLUTE MELTDOWN

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

By: Ava Hanley
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Decks in this class (14)

CHAPTER 2: A CONSUMERS ECONOMIC CIRCUMSTANCES
Constraints 1,
Budget constraint 2,
A choice set 3
21  cards
CHAPTER 3: ECONOMIC CIRCUMSTANCES IN FINANCIAL MARKETS
Endowment examples 1,
Consumers choice set 2,
Worker choice set 3
16  cards
CHAPTER 4: TASTES + INDIFFERENCE CURVES
Assuming a consumer chooses the b...,
2 fundamentally rational assumpti...,
If both assumptions axioms hold w...
30  cards
CHAPTER 5: DIFFERENT TYPES OF TASTES
Different types of tastes are rep...,
Ways indifference maps differ 2,
Perfect substitutes 3
36  cards
CHAPTER 6: DOING THE BEST WE CAN
Economic circumstances 1,
Economic circumstances tastes 2,
Constrained optimisation problem 3
22  cards
CHAPTER 7: INCOME AND SUBSTITUTION EFFECTS IN CONSUMER GOODS MARKETS
Change in income causes 1,
Change in prices 2,
Change in income and prices are 3
36  cards
CHAPTER 8: WEALTH AND SUBSTITUTION EFFECTS IN LABOUR AND CAPITAL
Income effects have ______ income 1,
Income arising endogenously from ...,
Wealth effects 3
19  cards
CHAPTER 9: DEMAND FOR GOODS AND SUPPLY OF LABOUR AND CAPTIAL
Demand curve 1,
Demand function 2,
For 2 goods economic circumstance...
22  cards
CHAPTER 21: EXTERNALITIES IN COMPETITIVE MARKETS
What is a positive consumption ex...,
How do competitive markets behave...,
What is the efficient output leve...
39  cards
CHAPTER 15: THE “INVISIBLE HAND” AND THE FIRST WELFARE THEOREM
What does quasilinear utility imp...,
How does income distribution affe...,
What determines total quantity de...
45  cards
CHAPTER 18: ELASTICITIES, PRICE-DISTORTING POLICIES, AND NON-PRICE RATIONING
Q what does price responsiveness ...,
Q how is surplus divided when dem...,
Q who gets more surplus if demand...
71  cards
CHAPTER 19: DISTORTIONARY TAXES AND SUBSIDIES
What is statutory tax incidence 1,
What is economic tax incidence 2,
What determines how the tax burde...
26  cards
CHAPTER 10: CONSUMER SURPLUS + DWL
Increase in utility 1,
Measure utility using 2,
Indirect utility function maximis...
33  cards
CHAPTER 14: COMPETITVE MARKET EQUILIBRIUM
Competitive equilibrium occurs wh...,
Market demand above joint below j...,
Adding demand curves horizontally 3
20  cards

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microeconomics - 271 EXAM ABSOLUTE MELTDOWN

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