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