Relacionar Columnas Microeconomics Module 8Versión en línea Yay! We love econ! It’s so much fun! por Sofia Silva 1 Perfectly Competitive 2 Perfectly Price Discriminating Monopoly 3 Average Cost Curve 4 Single Price Monopoly 5 Tax Incidence 6 Pareto Efficient 7 Market Clearing Price 8 Exogenous Shock 9 Elasticity 10 Increasing Returns to Scale The effect of a 1% change in price on the quantity demanded A market equilibrium where a change in price or quantity would make either the supplier or the consumer worse off When production inputs double, output more than doubles A market with only one supplier and a set price for all consumers A force outside of the market that influences supply and/or demand A market with one supplier where the price is unique to each consumer and maximizes the individual’s willingness to pay The distribution of a tax across consumers and suppliers The zero-profit isoprofit curve A price where there is no excess supply or demand A market with a large number of buyers and sellers that can freely enter and exit.
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