'Mc ac' presentation slideshows

Review for Exam 4

Review for Exam 4. Exam Date: April 20, 2006. Format. about 20-22 multiple choice questions worth 3 points each. Short problems similar to those on the homework. Fill-in-the blanks. Industry Structure.

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Lecture on Local Government and Public Goods

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Pure Competition and Monopolistic Competition Chapter 10

Pure Competition and Monopolistic Competition Chapter 10. Pure competition is a standard against which other market structures are compared. The product is perfectly undifferentiated .

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546 views • 28 slides

Chapter 11: Monopoly

Monopoly/ Monopsony. Perfect competition. Oligopoly/ Oligopsony. Chapter 11: Monopoly. We are now back in partial equilibrium. So far we assumed perfect competition. In this chapter, we study the other extreme, when there is only one seller.

795 views • 24 slides

Cartels

Cartels. What is a Cartel. A Cartel is an organization by firms to set output and prices. Why a Cartel. A Cartel is an organization by firms to set output and prices. If the firms can agree to reduce output and are successful in excluding competitors, they can increase total industry profits.

1.18k views • 20 slides

Price Discrimination

Price Discrimination. (a la Pigou). First Degree Price Discrimination. (a la Pigou). Every item is sold at a different price, so TR is the area under the demand curve out to where MC=MR(=D). $. AR. MC. AC. MR=D. 0. Q. First Degree Price Discrimination. (a la Pigou).

300 views • 19 slides

Costs of Production

Costs of Production. Exam Question 2009 Q 3. Explain the shape of the SRAC curve. Explain the relationship between MCC and ACC. Downward sloping from x to y. 1. Specialisation As more products are made workers become more experienced and efficient. They can make more products per hour.

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Average Cost = Cost / quantity

C. 1. 20. 20/1 = 20. 35. 2. 22. 22/2 = 11. C. q. AC = C/q. 3. 23. 23/3 = 7.67. 24. 23. 4. 24. 24/4 = 6. 22. 5. 35. 35/5 = 7. 20. q. 1. 2. 3. 4. 5. Average Cost = Cost / quantity. AC = C / q. C. 1. 20. AC = m = 7. 35. 2. 22. C. q. AC = C/q. AC = m = 7.67.

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AP Economics

AP Economics. Mr. Bernstein Module 55: Firm Costs November 4, 2013. AP Economics Mr. Bernstein. Cost Curves In the short run, there are variable inputs and at least one fixed input The variable inputs have cost curves Common abbrev.:

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Theory of the Firm Graphs

Theory of the Firm Graphs. MAO. Cost Curve Diagram. MC. ATC. AFC. Cost. AVC. Output. LRAC Curve with SRAC Curves. SRAC 5. SRAC 1. LRAC. SRAC 2. Cost. SRAC 4. SRAC 3. Quantity. Economies and Diseconomies of Scale . LRAC. Economies Of Scale. Diseconomies Of Scale. Cost.

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Abnormal Profit and Normal Demand

Abnormal Profit and Normal Demand. MC. AC. Cost. D=AR. Quantity. MR. LRAC Curve with SRAC Curves. SRAC1. SRAC5. SRAC2. SRAC4. LRAC. SRAC3. Cost. Quantity. Shut Down Price and Break-Even Price. MC. Cost. ATC. b reakeven price. AVC. P1=ATC. s hut down price. P=AVC. Quantity.

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Costs on Parade: Total, Average, Marginal

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