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