P
- Patent (s)
-
- as a barrier to entry,
- Monopoly - Entry Barriers - 5,6
- Monopoly - Mutiple Choice Questions - 9
- Perfect Competition - Introduction - 6
- See also Barriers to entry
- Payoff matrix
- See Game theory - payoff matrix
- Perfect competition (Perfectly competitive market or industry)
-
- change in costs,
- Perfect Competition - Cost Change - 1-19
- characteristics of,
- Perfect Competition - Introduction - 2-7
- definition of,
- Demand & Supply - Law of Supply - 3
- Perfect Competition - Introduction - 3
- demand in perfectly competitive markets,
- Perfect Competition - Firm Demand - 1-4
- change in demand,
- Perfect Competition - Demand Change - 1-11
- entry into and exit from industry,
- Perfect Competition - Introduction - 2, 6
- Perfect Competition - Equilibrium - 3
- examples of,
- Perfect Competition - Mutiple Choice Questions - 1-28
- and factor markets,
- Factor Markets - Factor Demand - 6-13
- Factor Markets - Firm Hiring - 2
- Factor Markets - Mutiple Choice Questions - 2,4,14,16,19
- and fixed costs,
- Perfect Competition - Short Run Shut Down - 5
- Perfect Competition - Cost Change - 1,12-17
- in the long run,
- Perfect Competition - Mutiple Choice Questions - 3
- long-run equilibrium,
- Perfect Competition - Equilibrium - 3-14
- Perfect Competition - Mutiple Choice Questions - 2,8,9,15,17,18,23,25
- long-run shut down,
- Perfect Competition - Short Run Shut Down - 1
- Perfect Competition - Equilibrium - 1
- and losses,
- Perfect Competition - Short Run - 10
- Perfect Competition - Demand Change - 9
- and marginal cost,
- Perfect Competition - Firm Supply - 6
- and marginal revenue,
- Perfect Competition - Firm Demand - 3
- and profit,
- Perfect Competition - Short Run - 6
- Perfect Competition - Demand Change - 4
- Perfect Competition - Mutiple Choice Questions - 27
- profit maximization in,
- Perfect Competition - Short Run - 3
- Perfect Competition - Firm Supply - 4
- Perfect Competition - Mutiple Choice Questions - 4,20
- in the short run,
- Perfect Competition - Short Run - 1
- Perfect Competition - Mutiple Choice Questions - 1,3,7,16,26
- short run equilibrium,
- Perfect Competition - Equilibrium - 14
- Perfect Competition - Demand Change - 4
- Perfect Competition - Mutiple Choice Questions - 2
- short run shut down,
- Perfect Competition - Short Run Shut Down - 1
- shut down price,
- Perfect Competition - Equilibrium - 2
- Perfectly competitive firm
- Perfect Competition - Mutiple Choice Questions - 1,10-13,20,23
- and externalities,
- Externalities - Industry Structure - 1-5
- Externalities - Pollution Taxes - 2-5
- and factor markets,
- Externalities - Industry-Efficiency - 3-5
- Factor Markets - Firm Hiring - 2
- Factor Markets - Mutiple Choice Questions - 16
- and long run supply curve,
- Perfect Competition - Long Run Supply - 8
- and marginal revenue,
- Perfect Competition - Firm Demand - 6
- and shut down price,
- Perfect Competition - Equilibrium - 1-4
- Perfect Competition - Shut Down - 14
- and supply,
- Perfect Competition - Firm Supply - 1-9
- Perfectly elastic
-
- demand,
- Elasticity - Demand Own Price - 24
- supply,
- Current Events - Microsoft and DOJ
- Perfectly inelastic
- See also Inelastic demand
- Pollution
-
- abatement (reduction),
- Externalities - Optimal Pollution - 2-9
- marginal benefit of abatement (MBA),
- Externalities - Optimal Pollution - 3-7
- marginal cost of abatement (MCA),
- Externalities - Optimal Pollution - 4-7
- optimal amount of,
- Externalities - Optimal Pollution - 5-7
- Externalities - Marketable Pollution Credits - 1-8
- air pollution,
- Externalities - Introduction - 1
- Externalities - Marketable Pollution Credits - 2,4
- Current Events - Energy Use
- credits, marketable pollution credits
- or tradable pollution credits
- Externalities - Marketable Pollution Credits - 1
- optimal level of,
- Externalities - Optimal Pollution - 1-9
- tax and subsidy, Pigouvian
- Externalities - Pollution Taxes - 1-5
- zero pollution,
- Externalities - Optimal Pollution - 1, 5-7
- Population
-
- and demand,
- Demand & Supply - Law of Demand - 2
- Factor Markets - Factor Prices - 2
- Public Goods - Optimal Provision - 2
- and the marginal benefit of abatement,
- Externalities - Optimal Pollution - 6
- Positive relationship between variables,
- Introduction - Graphs - 5-6
- Demand & Supply - Supply Introduction - 1-3
- Preferences,
- Consumer Choice - Preferences - 1
- Introduction - Mutiple Choice Questions - 11
- See also Utility
- Present value,
- Factor Markets - Present Value - 1-19
- Price,
- See Market price
- Price ceiling,
- Demand & Supply - Equilibrium - 8
- Demand & Supply - Mutiple Choice Questions - 7
- Price discrimination,
- Current Events - Oil Price Increases
- Price elasticity of demand (Own Price),
-
- definition of,
- Elasticity - Demand - Own Price - 1
- elastic vs. inelastic,
- Elasticity - Demand - Own Price - 6
- example of,
- Elasticity - Mutiple Choice Questions - 5,6,8,9,11,15
- Current Events - Cigarette Tax
- and revenue,
- Elasticity - Demand Own Price - Revenue - 1-25
- Elasticity - Mutiple Choice Questions - 16
- Price floor,
- Demand & Supply - Equilibrium - 6
- Demand & Supply - Mutiple Choice Questions - 6
- Price inelastic demand,
- See Inelastic demand
- Price of complements,
- Demand & Supply - Law of Demand - 2
- Price of substitutes,
- Demand & Supply - Law of Demand - 2
- Price support,
- Demand & Supply - Equilibrium - 6
- Price taker,
- Demand & Supply - Law of Supply - 2
- Perfect Competition - Firm Supply - 1
- Perfect Competition - Firm Supply - 12
- Factor Markets - Market Power - 1
- Price theory,
- Introduction - Micro - 4
- Prisoners' dilemma,
- See Game theory - prisoners' dilemma
- Private good (s)
-
- vs. public good (s),
- Public Goods - Introduction - 2
- Public Goods - Demand for Public Goods - 2
- and marginal utility ,
- Public Goods - Optimal Provision - 1
- Private marginal cost of production (PMC),
- Externalities - Industry Structure - 2-6
- Producers' surplus,
- Consumer Choice - Tax-Surplus - 1
- Product differentiation,
- Perfect Competition - Introduction - 5
- Monopolistic Competition - Excess Capacity - 5
- Monopolistic Competition - Introduction - 3, 6
- Production costs,
- Demand & Supply - Law of Supply - 4
- Production Costs - Introduction - 1
- Production Costs - Mutiple Choice Questions - 1-17
- Factor Markets - Mutiple Choice Questions - 8
- long run
- Production Costs - Long Run Costs - 1
- Production possibilities frontier (PPF),
- Introduction - PPF - 5
- Introduction - Mutiple Choice Questions - 3
- Current Events - Hurricanes and Strikes
- Production possibilities set,
- Introduction - PPF - 14
- Production technology,
- Introduction - PPF - 15-17
- Demand & Supply - Law of Supply - 4
- Introduction - Mutiple Choice Questions - 6,9
- Factor Markets - Firm Hiring - 25
- long run
- Production Costs - Short and Long Run Costs - 2
- Production Costs - Long Run Costs - 1
- and public goods
- Public Goods - Optimal Provision - 2
- Productivity,
- Introduction - PPF - 18
- Production Costs - Cost Shift - 3, 4
- Production Costs - Cost Change - 2
- Monopoly - Mutiple Choice Questions - 10,11
- Factor Markets - Factor Demand - 16-20
- Factor Markets - Market Power - 24
- Factor Markets - Mutiple Choice Questions - 7,9
- Externalities - Optimal Pollution - 1
- Current Events - Productivity
- Products,
- See Outputs
- Profit (s),
- Production Costs - Introduction - 1
- Production Costs - Mutiple Choice Questions - 23
- Elasticity - Own Price - Revenue - 10
- Factor Markets - Mutiple Choice Questions - 7
- Current Events - Drug Bust
- Current Events - Oil Price Increases
- Current Events - Productivity
- economic,
- See Economic profit
- vs. revenue,
- Elasticity - Own Price - Revenue - 4
- Profit maximizing firm
-
- monopolist,
- Monopoly - Profit Maximization - 7
- perfect competitor,
- Perfect Competition - Short Run - 3
- Perfect Competition - Firm Supply - 4
- Perfect Competition - Mutiple Choice Questions - 4,20
- Property tax
- See Taxes - property
- Public economics,
- Public Economics - Introduction - 1
- Public good (s)
-
- definition of,
- Public Economics - Introduction - 1, 2
- demand for,
- Public Economics - Demand for Public Goods - 1, 2
- and free rider problem,
- Public Economics - Free Rider - 1, 2
- marginal cost of production for,
- Public Economics - Optimal Provision - 1, 2
- marginal utility of,
- Public Economics - Optimal Provision - 1, 2
- Public Economics - Free Rider - 1, 2
- non-excludability of,
- Public Economics - Introduction - 1, 2
- non-rivalness in consumption of,
- Public Economics - Introduction - 1, 2
- Public Economics - Free Rider - 1
- optimal provision (allocative efficiency) of,
- See Optimal provision
- Publicly provided goods,
- Public Economics - Introduction - 2
- Public policy,
- See Government
- See Legislation
- See Regulation
- Pure private good (s),
- Public Economics - Introduction - 2
- Pure public good (s),
- Public Economics - Introduction - 2
- Public Economics - Free Rider - 1
Q
- Quantity demanded
-
- change in,
- Demand & Supply - Law of Demand - 3
- vs. change in demand,
- Demand & Supply - Demand Introduction - 1
- Demand & Supply - Law of Demand - 4
- definition of,
- Demand & Supply - Demand Introduction - 1
- and elasticity,
- Elasticity - Introduction - 1
- Elasticity - Market Adjustment - 2
- in an equation,
- Demand & Supply - Schedules & Equations - 4
- and equilibrium,
- Demand & Supply - Equilibrium - 1
- Demand & Supply - Market Adjustment - 1
- in an equation,
- Demand & Supply - Equilibrium - 1
- Quantity supplied
-
- change in,
- Demand & Supply - Law of Supply - 1
- Demand & Supply - Mutiple Choice Questions - 10
- vs. change in supply,
- Demand & Supply - Mutiple Choice Questions - 10
- and cost of factors of production,
- Demand & Supply - Production Costs - 1
- definition of,
- Demand & Supply - Supply Introduction - 1
- and elasticity,
- Elasticity - Introduction - 1
- Elasticity - Market Adjustment - 3
- in an equation,
- Demand & Supply - Schedules & Equations - 5
- and equilibrium,
- Demand & Supply - Equilibrium - 1
- Demand & Supply - Market Adjustment - 1
R
- Rate of interest
- See Interest rate
- Rate of return,
- Perfect Competition - Short Run Equilibrium - 11
- Rate of substitution,
- Consumer Choice - Utility Maximization - 3
- See also Marginal rate of substitution
- See also Marginal rate of technical substitution
- Rationing,
- Demand & Supply - Equilibrium - 11
- Recession,
- Perfect Competition - Demand Change - 9
- Oligopoly - Repeated Games - 6, 11
- Current Events - Hurricanes and Strikes
- Recycling,
- Oligopoly - Dilemmas - 14, 15
- Regulation,
- Externalities - Marketable Pollution Credits - 1
- Externalities - Pollution Taxes - 1
- in the absence of,
- Production Costs - Long Run Costs - 4
- See also Antitrust law
- See also Government
- See also Price ceiling
- See also Price floor
- Related good (s)
- See Complementary goods
- See Substitute goods
- Relationship
-
- Relative price,
- Consumer Choice - Budget Constraint - 2
- Rent, Economic
- See Economic rents
- Rent control,
- Demand & Supply - Equilibrium - 9-10
- Rent control laws,
- Demand & Supply - Equilibrium - 10
- Repeated game (s),
- See Game theory - repeated game
- Research,
- Elasticity - Demand Own Price - 25
- Oligopoly - Introduction - 7
- Resources,
- Introduction - Micro - 5
- Introduction - Production Possibilities - 12
- Current Events - Hurricanes and Strikes
- Current Events - Productivity
- See also Unemployed resources
- Returns to scale
- See Constant returns to scale (CRS)
- See Decreasing returns to scale (DRS)
- See Increasing returns to scale (IRS)
- Revenue,
-
- definition of,
- Introduction - Cost & Profit - 2
- and price,
- Elasticity - Own Price - Revenue - 1
- Elasticity - Mutiple Choice Questions - 5,8,16
- raised by excise tax,
- Consumer Choice - Tax-Surplus - 3
- shown graphically,
- Perfect Competition - Short Run - 5
- Risk,
- Monopoly - Entry Barriers - 7
- Oligopoly - Mixed Strategies - 5
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