'Ana corrales eco' presentation slideshows

Ch. 22: The Costs of Production

Ch. 22: The Costs of Production. Economic/Opportunity Cost: Value or worth of any resource used to produce a good from its best alternative use Payments a firm must make or income a firm must provide to attract the resources it needs from alternative production opportunities

348 views • 15 slides

Chapter 20: Elasticity of Demand & Supply

Chapter 20: Elasticity of Demand & Supply. Price Elasticity: Buying & selling responses of consumers and producers to price changes Cross Elasticity: Buying responses of consumers of one product when the price of another product changes

339 views • 12 slides

Ch. 25: Monopolistic Competition & Oligopoly

Ch. 25: Monopolistic Competition & Oligopoly. Most firms have distinguishable rather than standardized products Competition occurs on the basis of price, quality, location, service, and advertising. Monopolistic Competition. Large number of sellers Small market shares No collusion

308 views • 11 slides

Ch. 21: Consumer Behavior & Utility Maximization

620 views • 5 slides