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Micro Economics - Spring

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

By: George Reynolds
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Decks in this class (14)

Lecture 1: The organisation of firms
Name 2 theories for why firms exi...,
What is the ronald coase theory 2,
What are the 2 extremes that coas...
12  cards
Perfectly competitive markets
What is a perfectly competitive m...,
Give an example of a perfectly co...,
What are the 5 conditions that ne...
18  cards
Perfect competition & Industry Supply
How does perfect competition impa...,
What happens in the short run to ...,
Give an example of short run indu...
13  cards
Normative Analysis of Perfect Competition
What is positive economics 1,
What is normative economics 2,
How do we measure welfare 3
23  cards
Monopoly - Market Power and Profit Maximisation
What is a monopoly 1,
What condition defines profit max...,
Why is mr
22  cards
Oligopoly models
What is the main assumption of th...,
What is a reaction function in co...,
How is cournot equilibrium output...
10  cards
Game theory
What is a dominant strategy 1,
Define nash equilibrium 2,
Can a game have multiple nash equ...
8  cards
Public goods
What are the two key features of ...,
Give 2 examples of public goods 2,
What is the efficiency condition ...
14  cards
Asymmetric Information
What is asymmetric information 1,
What are the two main types of as...,
Define adverse selction 3
12  cards
Consumer theory
What is a budget constraint 1,
What is the formula for a budget ...,
What is the marginal rate of subs...
4  cards
Producer theory
What is the profit function 1,
What s the condition for profit m...,
How do you find marginal revenue ...
4  cards
ENTRY & COMMITMENT
What is strategic entry deterrence 1,
What makes a threat credible in g...
2  cards
TAX INCIDENCE & ELASTICITY
Who bears more tax burden elastic...,
What does a unit tax do to the su...,
What is deadweight loss dwl 3
6  cards
Quasilinear Preferences
What are quasilinear preferences 1
1  cards

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Micro Economics - Spring

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