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22 Terms
1
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Short run perfect competition
2
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Long run perfect competition
3
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Subnormal profit short run+long run perfect competition
4
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Monopoly
5
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oligopoly
6
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monopolistic competition short run
7
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monopolistic competition long run
8
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natural monopoly
9
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contestable markets
10
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economies of scale
11
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wage determination
12
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labour demand curve-mrp
13
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labour supply curve
14
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profit maximisation
15
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revenue maximisation
MR=0
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sales maximisation
AC=AR
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Monopsony
18
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Trade union in a Labour market
19
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Trade union in a monopsony market
20
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Economic rent and transfer earnings
21
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national minimum wage in a monopsony labour market
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bilateral monopoly
Note 
Flashcards (51)