1/29
Looks like no tags are added yet.
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
Select ALL
standardized, barriers
Graph of perfectly competitive industry - Q3
avc - atc
Graph of perfectly competitive industry - MInimum price
P2
apple
lower, new firms
equilibrium
minimum point
statements is most accurate
$25(longer one)
$40
$90
snow-clearing service - shut-down price
$15
snow-clearing service - maximize profit
4
fill in the blank
Marginal Product
Sigmund
4
negative
Exit
Rosie
-12000
greater
ATC Increasing
experiencing
economies of scale
toasters
40
toy cars - 20
$49
toy cars - 14
6
toy cars - 11
profit maximizing quantity
intersects
AVC lowest point
concept
ATC = AVC + AFC
does not change
fixed cost
Diminishing marginal returns
(longest one)
Jimmie
5
bagel - 3rd worker
15000 bagels
bagel - additional
4th worker
hardware store
94000
normal profit
economic profit equals zero
labor
3rd
sunk costs
ignored