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Year 2 - Micro

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

By: Chris Jenkins
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Decks in this class (18)

Indifference Analysis
Learn indifference cards from yea...,
What is the budget constraint equ...,
For vat if the price of a good eq...
18  cards
1.3 T1
What does a utility function do a...,
What are ordinal utility functions 2,
What are cardinal utility functio...
7  cards
1.4 T1
When can t you use tangency condi...,
Draw diagrams for 3 exceptions to...,
When is tangency a sufficient con...
17  cards
1.5 T1
Draw diagrams to show x as a 1,
What does an income expansion off...,
See notes 3
30  cards
2.1 (Producer Behaviour)
Define production set 1,
What does a representative firm do 2,
What does a production set show 3
25  cards
T2 1.1: Monopoly
Define a monopoly 1,
2 points on how a monopolist can ...,
What is a monopolists profit func...
39  cards
T2: 1.3: Factor markets in imperfect competition
How will a monopoly act in the in...,
Monopoly in output market 4 assum...,
What is marginal revenue product 3
16  cards
T2: 2.1: Game Theory
What is a symmetric game 1,
What are pure strategies 2,
What is a solution by elimination...
18  cards
T2: 1.4
Define an oligopoly 1,
2 simplifying assumptions for oli...,
What is a quantity leadership 3
14  cards
T2 1.2: Price Discrimination
Define price discrimination 1,
What is first degree price discri...,
Is 1st pd pareto efficient and why 3
28  cards
2.2: Profit maximising behaviour and 2.3: Cost minimisation
What other factors may managers f...,
2 implications of non profit maxi...,
Define marginal revenue and margi...
25  cards
2.4: Cost functions
Define total cost function 1,
See bottom of page 3 notes cost f...,
Draw diagrams for average fixed c...
15  cards
3.1: perfectly competitive markets
3 main assumptions of pcms 1,
Why are firms consumers in pcms p...,
Read pcm assumptions bit 3
8  cards
3.2: Firm's Supply SR
Draw diagram and explain why firm...,
2 reason a firm may operate at a ...,
Difference between shutting down ...
9  cards
3.2: Firm's Supply LR
Read 1,
What is zero profit 2,
What is a normal return 3
8  cards
Topic 3.3
Define reservation price for a a ...,
See top of page 2 about discreet ...,
Define gross benefit 3
30  cards
3.1 T2: Edgeworth box
What is meant by pure exchange 1,
See and learn 2,
What does an ewb allow us to do 3
26  cards
T2 4.1: externatlities
0  cards

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Year 2 - Micro

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