A
- Abatement,
- See Pollution - abatement
- Agricultural market,
- See Price support - agriculture
- Demand & Supply - Equilibrium - 9,10
- Demand & Supply - Equilibrium - 14
- Perfect Competition - Introduction - 3-5
- Current Events - Drug Bust
- Air pollution,
- See Pollution - air
- All else being equal,
- See Ceteris paribus
- Allocative efficiency.
See also Optimal provision
- Industry Policy - Efficiency - 1-17
- Industry Policy - Structure & Efficiency - 5,6,11-13,17-18
- Factor Markets - Market Power - 2, 10
- Public Economics - Introduction - 2
- Public Economics - Optimal Provision - 1
- Externalities - Industry Structure - 1-6
- Externalities - Pollution Taxes - 3-5
- Industry Policy - Natural Monopoly - 3-4
- Industry Policy - Multiple Choice Questions - 1, 4, 5, 12
- Anti-competitive behavior,
- Current Events - Microsoft Found Guilty of Antitrust Violations
- Antitrust law,
- Elasticity - Revenue - 9
- Monopoly - Introduction - 4,5
- Oligopoly - Repeated Games - 5, 10
- Industry Policy - Antitrust Law - 1-15
- Industry Policy - Multiple Choice Questions - 7-11
- Current Events - Microsoft Sued by Department of Justice
- Current Events - Microsoft Found Guilty of Antitrust Violations
- Arc elasticity,
- See Elasticity - arc
- Asia,
- Current Events - Asian Crisis
- Average cost pricing,
- Industry Policy - Natural Monopoly - 5
- Average fixed cost (AFC)
-
- Average fixed costs (AFC),
- Production Costs - Multiple Choice Questions - 12
- Average product (AP)
-
- Average revenue (AR)
-
- Average total cost (ATC)
- Production Costs - Multiple Choice Questions - 4,12,14,17
- Average variable cost (AVC)
- Production Costs - Multiple Choice Questions - 3,4,7,17
- Averch-Johnson effect,
- Industry Policy - Natural Monopoly - 6
- Industry Policy - Multiple Choice Questions - 11
B
- Backward bending labor supply curve,
- See Supply of labor curve - backward bending
- Barriers to entry
-
- Barriers, trade
- See Trade barriers
- Benefit-cost analysis,
- See Cost-benefit analysis
- Bonds,
- Demand & Supply - Demand Shift - 19
- Monopolistic Competition - Entry Barriers - 4
- Budget constraint
-
- Budget line,
- See Budget constraint
C
- Capacity, excess
- See Excess capacity
- Capital,
- See Factors of production - capital
- Capital investment,
- See Investment
- Cartel,
- Current Events - Energy Use
- Ceteris paribus (all else being equal)
-
- Celler-Kefauver Act,
- Industry Policy - Antitrust Law - 7
- Industry Policy - Multiple Choice Questions - 9
- Change in demand,
- See Demand - change in demand
- Change in quantity demanded,
- See Quantity demanded - change in
- Change in supply,
- See Supply - change in supply
- Change in quantity supplied,
- See Quantity supplied - change in
- Clayton Act,
- Industry Policy - Antitrust Law - 5-7
- Industry Policy - Multiple Choice Questions - 8-9
- Collusion,
- Oligopoly - Multiple Choice Questions - 7,13
- Industry Policy - Antitrust Law - 8,12
- Current Events - Rx Collusion Accusation
- Current Events - Productivity
- Competition,
- See Imperfect competition
- See Perfect competition
- See Monopolistic competition
- Competitive behavior,
- See Perfect competition
- Competitive markets,
- See Perfect competition
- Complementary goods (complements)
-
- Conglomerate Mergers,
- Industry Policy - Antitrust Law - 9
- Constant returns to scale (CRS),
- Production Costs - Long Run Costs - 7
- Consumer behavior,
- Factor Markets - Firm Hiring - 5
- See also Consumer choice
- See also Consumers' surplus
- Consumer choice,
- Consumer Choice - Introduction - 1-3
- Preferences
- Indifference Curves
- Utility
- Budget Constraints
- Utility Maximization
- Consumers' and Producers' Surplus
- Income and Substitution Effects
- Excise Taxes and Surplus
- Consumer Choice - Multiple Choice Questions - 1-21
- Consumer Choice - Advanced Multiple Choice Questions - 1-8
- Related Current Events
- Consumers' surplus
-
- Consumption,
- Consumer Choice - Introduction - 1-3
- Consumption bundle,
- Consumer Choice - Preferences - 2
- Contracts,
- Industry Policy - Antitrust Law - 8
- See Tying Contracts
- Cost (s)
-
- definition of,
- Introduction - Opportunity Costs - 2
- external costs,
- See Externalities
- fixed costs,
- See Fixed Costs
- forgone costs,
- Perfect Competition - Short Run - 6
- indirect costs,
- Introduction - Cost & Profit - 1
- Introduction - Opportunity Costs - 2
- long-run costs,
- See Long-run costs
- marginal cost,
- See Marginal cost
- opportunity cost,
- See Opportunity cost
- production costs,
- See Production costs
- shift, cost,
- Production Costs - Cost Shifts
- Current Events - Rising Ice Cream Prices
- short-run costs,
- See Short-run costs
- social costs,
- See Social costs
- total costs,
- See Total costs
- variable costs,
- See Variable costs
- Cost-benefit analysis,
- Industry Policy - Efficiency - 5
- Externalities - Introduction - 1
- Crime,
-
- Cross (price) elasticity of demand,
- See Elasticity - cross price elasticity of demand
D
- Deadweight loss,
- Consumer Choice - Tax-Surplus - 15-16, 19-23
- Consumer Choice - Multiple Choice Questions - 11
- Industry Policy - Structure & Efficiency - 12,17
- Industry Policy - Multiple Choice Questions - 13-14
- Decision making, economic
- Introduction - Micro - 4,5
- Introduction - Cost & Profit - 4,6
- See also Intangible aspect
- Decreasing returns to scale (DRS),
- Production Costs - Long Run Costs - 5, 6, 9
- Perfect Competition - Long Run Supply - 7
- Demand. See also Demand curve
-
- change in demand,
- Demand & Supply - Introduction - 6-8
- Demand & Supply - Demand Shift - 1
- Demand & Supply - Market Adjustment - 1
- Demand & Supply - Market Adjustment - 10
- Demand & Supply - Multiple Choice Questions - 9
- and complements,
- Demand & Supply - Demand Shift - 1
- Demand & Supply - Demand Shift - 11
- Demand & Supply - Demand Shift - 15-18, 22
- curve,
- See Demand curve
- definition of,
- Demand & Supply - Demand Introduction - 1
- Demand & Supply - Introduction - 2
- desired quantity demanded,
- Demand & Supply - Introduction - 2
- derived demand,
- See Factors of Production - Derived Demand
- demand equation,
- Demand & Supply - Demand Shift - 1, 3, 4
- Demand & Supply - Introduction - 5
- Demand & Supply - Multiple Choice Questions - 5
- elastic demand,
- See Elastic demand
- expectations,
- Demand & Supply - Introduction - 8, 13
- Demand & Supply - Demand Shift - 1
- Demand & Supply - Demand Shift - 19-22
- Current Events - Oil Price Increases
- Current Events - Video Conference of Fly?
- factor demand,
- See Factor demand
- graphing demand,
- Demand & Supply - Introduction - 5
- industry demand,
- Demand & Supply - Introduction - 10
- Demand & Supply - Equilibrium - 9
- Demand & Supply - Market Adjustment - 5,13
- Perfect Competition - Firm Supply - 3
- inelastic demand,
- See Inelastic demand
- inverse relationship,
- Demand & Supply - Introduction - 4, 6, 14
- market demand,
- Demand & Supply - Introduction - 4,6
- Production Costs - Long Run Costs - 9
- Perfect Competition - Firm Supply - 3
- Perfect Competition - Equilibrium - 5
- Monopoly - Profit Maximization - 1, 4, 5
- Factor Markets - Market Power - 1
- Public Goods - Demand for Public Goods - 1
- shift in demand,
- Demand & Supply - Demand Shift - 1
- Current Events - Video Conference of Fly?
- and substitutes,
- Demand & Supply - Introduction - 8
- Demand & Supply - Demand Shift - 1, 11, 14, 18
- Current Events - Video Conference of Fly?
- and taxes,
- Consumer Choice - Taxation - 7
- Current Events - Cigarette Tax
- Demand curve. See also Demand
-
- Demand elasticity,
- See Elastic demand
- See Inelastic demand
- See Price elasticity of demand
- Demand of labor,
- Current Events - U.S. Minimum Wage Increase
- Demand schedule,
- Demand & Supply - Introduction - 14
- Demand & Supply - Schedule & Equations - 1
- Demand and supply
- Introduction
- Equilibrium
- Demand Shift
- Supply Shift
- Market Adjustment
- Multiple Choice Practice
- Related Current Events
- Derived demand,
- See Factors of Production - Derived Demand
- Desired quantity demanded,
- See Quantity demanded
- Desired quantity supplied,
- See Quantity supplied
- Differentiated products,
- Monopolistic Competition - Introduction - 1
- Industry Policy - Industry-Efficiency - 1
- Diminishing rate of technical substitution,
- Factor Markets - Firm Hiring - 10
- Diminishing returns,
- See Law of diminishing returns
- Diseconomies of scale,
- See Decreasing returns to scale (DRS)
- Division of market territory,
- Industry Policy - Multiple Choice Questions - 7
- Dominant strategy,
- See Game theory - dominant strategy
- Dominated strategy,
- See Game theory - dominated strategies
E
- Economic cost. See Opportunity cost
-
- Economic loss
-
- Economic rents
-
- Economic profit
-
- Economies, market
- See Market economies
- Economies of scale,
- See Increasing returns to scale (IRS)
- Efficiency,
- See Allocative efficiency
- See Productive efficiency
- See Technical efficiency
- Elastic demand. See also Price elasticity of demand
-
- Elasticity
-
- arc elasticity,
- cross price elasticity of demand,
- definition of,
- Elasticity - Introduction - 1
- demand,
- See Elastic demand
- See Inelastic demand
- perfectly inelastic, shown graphically
- Elasticity - Demand - Own Price - 23
- perfectly elastic, shown graphically
- Elasticity - Demand - Own Price - 24
- income elasticity of demand,
- inelastic demand,
- and Market Adjustment,
- See Market adjustment
- own price elasticity of demand,
- See Price elasticity of demand
- own price elasticity of supply,
- point elasticity,
- Elasticity - Introduction - 12
- price elasticity of demand,
- See Price elasticity of demand
- Election Coverage, U.S.,
- Current Events - TV Election Coverage
- Employment,
- Introduction - Multiple Choice Questions - 10
- Factor Markets - Factor Prices - 18
- Factor Markets - Market Power - 12, 13, 16, 21-24
- Factor Markets - Multiple Choice Questions - 9
- Current Events - Holiday Employment
- Current Events - Hurricanes and Strikes
- Energy conservation,
- Current Events - Energy Use
- Energy consumption,
- Current Events - Energy Use
- Engel curve
-
- Entry barriers,
- See Barriers to entry
- Entry into industry,
- Perfect Competition - Introduction - 6
- Current Events - Video Conference of Fly?
- Environmental problems,
- Externalities - Industry Structure - 6
- Current Events - Energy Use
- See also Pollution - abatement
- Equilibria,
- Demand & Supply - Equilibrium - 5
- Equilibrium, market
- Demand & Supply - Equilibrium - 1-14
- Demand & Supply - Market Adjustment - 1-22
- Perfect Competition - Equilibrium - 4
- Demand & Supply - Multiple Choice Questions - 10
-
- Equilibrium price and quantity,
- Demand & Supply - Equilibrium - 1-14
- Demand & Supply - Market Adjustment - 1-22
- Demand & Supply - Multiple Choice Questions - 2
- Current Events - Surf Fashions
- Excess burden (Deadweight loss),
- See Deadweight loss
- Excess capacity,
- Monopoly - Entry Barriers - 5, 9-10
- Monopolistic Competition - Excess Capacity - 1-5
- Excise taxes,
- Consumer Choice - Taxation - 1-4, 12, 14, 24
- Current Events - Cigarette Tax
- Expectations,
- See Demand - expectations
- See Supply - expectations
- Expenditure compensation,
- Consumer Choice - Income & Substitution Effect - 6-9
- Consumer Choice - Income & Substitution Effect - Expenditure - 1-28
- Exports (exported goods),
- Current Events - Tariff on Luxury Goods
- Externalities.
See also Pollution
- Introduction
- Optimal Pollution
- Industry Structure
- Marketable Pollution Credits
- Pollution Taxes
F
- Factor demand,
- See Factors of Production - Derived Demand
- Factor demand curve,
- Factor Markets - Factor Demand - 6-20
-
- Factor markets,
- Factor Markets - Introduction
- Factor Demand
- Factor Supply
- Factor Prices
- Firm Hiring
- Present Value
- Market Power
- Economic Rents
- Multiple Choice Practice
- Related Current Events
- Factor price,
- Factor Markets - Factor Prices - 1-18
- Current Events - Holiday Employment
- Factors,
- See Factors of production
- Factors of production, Also Inputs
- Demand & Supply - Introduction - 13
- Factor Markets - Introduction - 1
- See also Factors of production - capital
- See also Labor
- See also Land
- capital,
- Factor Markets - Firm Hiring - 5-24
- derived demand for,
- labor,
- See Labor
- markets for,
- See Factor markets
- marginal factor cost (MFC),
- Factor Markets - Market Power - 6-18
- Factor Markets - Multiple Choice Questions - 12
- marginal revenue product (MRP),
- Factor Markets - Factor Demand - 5-20
- Factor Markets - Market Power - 2-19
- Factor Markets - Multiple Choice Questions - 1,2,3
- marginal product of,
- Factor Markets - Factor Demand - 3-7
- Factor Markets - Multiple Choice Questions - 2
- price paid for,
- Factor Markets - Factor Prices - 1
- variable factors,
- Production Costs- Diminishing Returns - 1
- wage paid for,
- Factor Markets - Factor Supply - 2-18
- Factor Markets - Factor Prices - 1-18
- Factor Markets - Multiple Choice Questions - 1, 10-14
- Fair rate of return pricing,
- Industry Policy - Natural Monopoly - 6
- Federal Trade Commission (FTC),
- Industry Policy - Antitrust Law - 5
- Current Events - Productivity
- Current Events - Microsoft Sued by Department of Justice
- Finding of Fact,
- Industry Policy - Antitrust Law - 14
- Firms
-
- Fixed costs
-
- Fixed factors,
- Production Costs - Diminishing Returns - 1-5
- Production Costs - Marginal Product - 1
- Perfect Competition - Cost Change - 2
- Forgone costs,
- Perfect Competition - Short Run - 6
- Forgone income,
- Introduction - Cost & Profit - 4-7
- Introduction - Opportunity Costs - 5
- Introduction - Multiple Choice Questions - 1
- Monopolistic Competition - Entry Barriers - 4
- Monopolistic Competition - Multiple Choice Questions - 1
- Current Events - Law School Applications Up
- Forgone interest,
- Introduction - Multiple Choice Questions - 2
- Perfect Competition - Cost Change - 1
- Monopoly - Cost Change - 7
- Factor Markets - Present Value - 7
- Forgone opportunity,
- Introduction - Cost & Profit - 1,5
- Introduction - Opportunity Costs - 7
- Introduction - PPF - 1
- Current Events - Law School Applications Up
- Forgone salary (ies),
- Production Costs - Short Run Costs - 1
- Monopoly - Cost Change - 1,7
- Monopolistic Competition - Multiple Choice Questions - 1
- Current Events - Law School Applications Up
- Four Firm Concentration Ratio (FFCR),
- Industry Policy - Antitrust Law - 10
- Free entry,
- Monopolistic Competition - Introduction - 2,6
- Perfect Competition - Introduction - 2,6
- Free exit,
- Monopolistic Competition - Introduction - 2,6
- Perfect Competition - Introduction - 2,6
- Free rider,
- Public Economics - Free Rider - 1-5
G
- Game theory
-
- definition of,
- Oligopoly - Game Theory Introduction - 1-2
- dominant strategy,
- Oligopoly - Dominant Strategy - 1-16
- Oligopoly - Dilemmas - 1-16
- Oligopoly - Dominated Strategies - 1-7
- Oligopoly - Nash Equilibrium - 1, 2, 10, 14
- Oligopoly - Repeated Games - 13-14
- Oligopoly - Mixed Strategies - 2
- Oligopoly - Multiple Choice Questions - 2,3,9,10
- Current Events - TV Election Coverage
- Current Events - TV Reruns
- dilemmas,
- Oligopoly - Repeated Games - 1
- Oligopoly - Dilemmas - 1-8
- Oligopoly - Multiple Choice Questions - 2,10
- Current Events - Oil Price Increases
- Current Events - TV Election Coverage
- Current Events - TV Reruns
- dominated strategies,
- Oligopoly - Dominated Strategies - 1-7
- Oligopoly - Mixed Strategies - 1
- Oligopoly - Multiple Choice Questions - 6
- game tree,
- Oligopoly - Game Theory Introduction - 8-9
- Oligopoly - Sequential Games - 1- 12
- Current Events - Rx Collusion Accusation
- Current Events - TV Election Coverage
- Current Events - Name Game 98
- nash equilibrium,
- Oligopoly - Nash Equilibrium - 1-14
- Oligopoly - Repeated Games - 1, 15
- Oligopoly - Mixed Strategies - 1, 3, 12
- Oligopoly - Multiple Choice Questions - 5,7,8,11,18
- oligopolists' dilemma,
- See Game theory - dilemmas
- payoff matrix,
- Oligopoly - Game Theory Introduction - 3-7
- Oligopoly - Multiple Choice Questions - 1-11,17-19
- Current Events - Name Game 98
- Current Events - Oil Price Increases
- Current Events - TV Election Coverage
- Current Events - TV Reruns
- prisoners' dilemma,
- See Game theory - dilemmas
- repeated game (s),
- Oligopoly - Dilemmas - 11
- Oligopoly - Repeated Games - 1
- Current Events - Oil Price Increases
- sequential games,
- Oligopoly - Sequential Games - 1-12
- Current Events - Rx Collusion Accusation
- Current Events - TV Election Coverage
- Current Events - TV Reruns
- Giffen goods,
- Demand & Supply - Exceptions - 7
- Consumer Choice - Income & Substitution Effect - Expenditure - 19-28
- Consumer Choice - Income & Substitution Effect - Utility - 19-28
- Gini coefficient,
- Current Events - Demand for Mansions
- Goods and services,
- See Exported goods
- See Giffen goods
- See Imported goods
- See Inferior goods
- See Normal goods
- See Normal goods - luxury goods
- See Normal goods - necessity goods
- See Outputs
- Government,
- Demand & Supply - Introduction - 1
- Demand & Supply - Equilibrium - 8-10,12-14
- Monopoly - Introduction - 4
- Monopoly - Barriers - 6
- Public Goods - Introduction - 1
- Public Goods - Optimal Provision - 3
- Demand & Supply - Multiple Choice Questions - 6,7,13
- See also Price ceiling
- See also Price floor
- See also Regulation
- See also Taxes
- Graphs,
- Introduction - Graphs - 1-11
H
- Health care cost,
- Externalities - Pollution Taxes - 3
- Herfindahl-Hirschman Index (HHI),
- Industry Policy - Antitrust Law - 11
- Horizontal Mergers,
- Industry Policy - Antitrust Law - 9
- Households,
- Introduction - Micro - 4
- Public Goods - Demand for Public Goods - 1
- Housing,
- Demand & Supply - Equilibrium - 9,10
- Homogeneous products,
- Perfect Competition - Introduction - 1
- Perfect Competition - Equilibrium - 1
- Perfect Competition - Firm Demand - 1
I
- Imperfect competition,
- Factor Markets - Factor Demand - 10
- See Oligopoly
- See Monopoly
- Imports (imported goods),
- Current Events - Tariff on Luxury Goods
- Income
-
- Income demand curve,
- See Engel curve
- Income effect (of a price change),
- Consumer Choice - Income And Substitution Effect - 1-9
- Factor Markets - Factor Supply - 7
- Factor Markets - Multiple Choice Questions - 5
- Income elasticity of demand,
- See Elasticity - income elasticity of demand
- Increasing returns to scale (IRS),
- Production Costs - Long Run Costs - 3-5, 9
- Factor Markets - Multiple Choice Questions - 18
- Industry Policy - Antitrust Law - 12
- Industry Policy - Natural Monopoly - 1
- Indeterminate price &/or quantity,
- Demand & Supply - Market Adjustment - 13-20
- Demand & Supply - Multiple Choice Questions - 9
- Factor Markets - Multiple Choice Questions - 7
- Indifference curves,
- Consumer Choice - Introduction - 1
- Consumer Choice - Indifference Curves - 1-8
- Indirect costs,
- Introduction - Cost & Profit - 1
- Introduction - Opportunity Costs - 2
- Current Events - Law School Applications Up
- Industrial organization,
- Perfect Competition - Introduction - 1
- Industrial concentration,
- Industry Policy - Antitrust Law - 10-11
- Industrial policy, (Industry policy)
- Introduction
- Efficiency
- Structure & Efficiency
- AntiTrust
- Natural Monopoly
- Multiple Choice Practice
- Related Current Events
- Industrial structure
-
- Industry,
- Perfect Competition - Introduction - 1
- Industry supply curve,
- See Supply Curve - Industry Supply Curve
- Inefficiency,
- Externalities - Industry Structure - 1,5
- Inefficient,
- Introduction - PPF - 14
- Inelastic demand,
- Elasticity - Demand - Own Price - 6-23
- Elasticity - Own Price - Revenue - 1-9
- Elasticity - Market Adjustment - 1-10
- Elasticity - Multiple Choice Questions - 6,7,10,14
- examples of,
- Current Events - Cigarette Tax
- Current Events - Drug Bust
- Current Events - Energy Use
- Current Events - Oil Price Increases
- Current Events - Surf Fashions
- and factor demand,
- Factor Markets - Factor Demand - 18-20
- and inferior goods,
- Consumer Choice - Income & Substitution Effect - 18,26
- Consumer Choice - Income & Substitution Effect - Utility Compensation - 18,26,28
- Consumer Choice - Income & Substitution Effect - Expenditure Compensation - 18,26,28
- and kinked demand,
- Oligopoly - Kinked Demand - 1
- and labor demand,
- Factor Markets - Market Power - 22
- perfectly, shown graphically
- Elasticity - Demand - Own Price - 23
- and price discrimination,
- Monopoly - Price Discrimination - 3-7
- and taxation,
- Consumer Choice - Taxation - 9-11, 16-24
- Consumer Choice - Multiple Choice Questions - 20-21
- and tariff,
- Current Events - Tariff on Luxury Goods
- Inelasticity,
- See Inelastic demand
- See Inelastic supply
- Inelastic supply,
- Elasticity - Supply - 2,4
- Elasticity - Market Adjustment - 3,8-0
- Factor Markets - Economic Rents - 2
- Factor Markets - Factor Supply - 18
- Factor Markets - Factor Prices - 11-15
- Current Events - The Dot-com Super Bowl
- Current Events - Demand for Mansions
- Current Events - Drug Bust
- Current Events - Super Bowl Commercials
- Current Events - Tall Christmas Trees
- Current Events - Wholesale Electricity Prices
- Inferior goods,
- Demand & Supply - Demand Shift - 5,6,9,10,22
- Elasticity - Demand - Income - 1, 2, 5, 6, 9-11, 19
- Elasticity - Demand - Income - 1, 2, 5, 6, 9-11, 19
- Elasticity - Multiple Choice Questions - 1,7,14,18
- Consumer Choice - Utility Maximization - 5
- Consumer Choice - Income & Substitution Effect - 2
- Consumer Choice - Income & Substitution Effect - Utility Compensation - 12-28
- Consumer Choice - Income & Substitution Effect - Expenditure Compensation - 12-28
- Inflation,
- Factor Markets - Present Value - 19
- Inputs,
- See Factors of production
- Insurance, as a fixed cost,
- Production Costs - Short Run Costs - 1
- Intangible aspect of decision making
- Introduction - Cost & Profit - 6
- Interest rate,
- Monopolistic Competition - Entry Barriers - 5-8
- Monopolistic Competition - Multiple Choice Questions - 7,11
- Oligopoly - Repeated Games - 8
- Factor Markets - Present Value - 2-19
- Factor Markets - Multiple Choice Questions - 22-23
- Interest bearing investment,
- Factor Markets - Present Value - 2
- Internet,
- Introduction - Opportunity Costs - 1
- Public Goods - Optimal Provision - 2
- Current Events - Microsoft Sued by Department of Justice
- Interstate Commerce Commission,
- Industry Policy - Antitrust Law - 3
- Inverse relationship,
- See Negative relationship
- Investment,
- Introduction - Multiple Choice Questions - 2
- Perfect Competition - Equilibrium - 3, 7, 10
- Monopolistic Competition - Entry Barriers - 5-6
- Monopolistic Competition - Multiple Choice Questions - 11
- Factor Markets - Present Value - 2-19
- Factor Markets - Multiple Choice Questions - 22-23
- Investment goods,
- Demand & Supply - Demand Shift - 19
- Isocost,
- Factor Markets - Firm Hiring - 13-17, 23
- Factor Markets - Multiple Choice Questions - 15-17
- Isoquant,
- Factor Markets - Firm Hiring - 7-19
- Factor Markets - Multiple Choice Questions - 15-18
J
- Jobs
- Introduction - Cost & Profit - 6
- Demand & Supply - Introduction - 9,10
- Demand & Supply - Demand Shift - 7
- Demand & Supply - Multiple Choice Questions - 1
- Factor Markets - Factor Supply - 5
- Factor Markets - Factor Prices - 16
- Current Events - Holiday Employment
- Justice Department
- See U.S. Department of Justice
K
- Kinked demand curve
- Demand & Supply - Introduction - 5
- Oligopoly - Kinked Demand - 2-5
- Oligopoly - Multiple Choice Questions - 14,15
L
- Labor,
- Demand & Supply - Introduction - 13
- Factor Markets - Firm Hiring - 5-24
- Factor Markets - Multiple Choice Questions - 8,12-15
- Current Events - Productivity
- Current Events - Holiday Employment
- Labor Department,
- See U.S. Department of Labor
- Labor supply,
- See Supply of labor
- Labor supply curve,
- See also Supply of labor curve
- Factor Markets - Factor Supply - 6-11,14,17
- Factor Markets - Market Power - 14,19,21
- Factor Markets - Multiple Choice Questions - 5,7,8,11-14
- Labor unions,
- Factor Markets - Factor Supply - 18
- Factor Markets - Market Power - 20-24
- Land,
- Production Costs - Short Run Costs - 2
- Factor Markets - Economic Rents - 1
- Perfect Competition - Multiple Choice Questions - 26
- Law of demand
-
- Law of diminishing returns,
- Production Costs - Cost Curves - 4
- Production Costs - Diminishing Returns - 2-6
- Production Costs - Long Run Costs - 1
- Production Costs - Marginal Cost - 1
- Production Costs - Marginal Product - 1-2
- Factor Markets - Factor Demand - 4
- Law of supply,
-
- Legislation
-
- Leisure time,
- Factor Markets - Factor Supply - 1-7
- Licensing, as a market entry barrier,
- Perfect Competition - Introduction - 6
- Perfect Competition - Cost Change - 1
- Monopoly - Introduction - 4
- Monopoly - Entry Barriers - 5,6,9
- Current Events - Microsoft Sued by Department of Justice
- Limit pricing,
- Monopoly - Entry Barriers - 5,9,12-15
- Linear relationship,
- Introduction - Graphs - 4,6
- Demand & Supply - Introduction - 5
- Long run,
- Production Costs - Short & Long Run - 2
- Production Costs - Long Run Costs - 1
- Long-run average cost (LRAC),
- Production Costs - Long Run Costs - 2
- Long-run costs,
- Production Costs - Long Run Costs - 1-9
- Long-run costs curve,
- Production Costs - Long Run Costs - 3-9
- Long-run equilibrium
-
- for a monopolist,
- Monopoly - Cost Change - 9, 12
- for a monopolistic competitor,
- Monopolistic Competition - Cost Change - 4-9, 11
- for a perfect competitor,
- Perfect Competition - Equilibrium - 3-14
- Perfect Competition - Multiple Choice Questions - 2,8,9,15,17,18,23,25
- Current Events - Drug Bust
- Long-run marginal cost (LRMC),
- Production Costs - Long Run Costs - 3-9
- Long-run shut down
-
- Lorenz curve,
- Current Events - Demand for Mansions
- Loss,
- See Economic loss
- Luxury goods,
- Elasticity - Demand - Income - 7-9, 11-15, 20
- Elasticity - Multiple Choice Questions - 1,4,13
- Current Events - Demand for Mansions
- Current Events - Tall Christmas Trees
- Current Events - Tariff on Luxury Goods
M
- Manufacturing sector,
- See Sector - manufacturing
- Marginal analysis,
- Perfect Competition - Firm Supply - 5
- Marginal cost (MC)
- Production Costs - Multiple Choice Questions - 4,6,15,16,17
- Marginal cost - marginal benefit analysis,
- Externalities - Introduction - 1
- Consumer Choice - Utility Maximization - 11
- Marginal factor cost (MFC),
- See Factors of production - marginal factor cost
- Marginal physical product (MPP),
- See Marginal product
- Marginal product (MP),
- Production Costs- Diminishing Returns - 3
- Production Costs- Marginal Product - 1-2
- Factor Markets - Factor Demand - 3-20
- Production Costs - Multiple Choice Questions - 13
- Current Events - Productivity
- Marginal product of capital (MPK),
- Factor Markets - Firm Hiring - 11-24
- Factor Markets - Multiple Choice Questions - 15-16
- Marginal product of labor (MPL),
- Factor Markets - Firm Hiring - 11-24
- Factor Markets - Multiple Choice Questions - 15-16
- Marginal rate of substitution (MRS),
- Consumer Choice - Indifference Curves - 6-8
- Consumer Choice - Utility Maximization - 4
- Marginal rate of technical substitution,
- Factor Markets - Firm Hiring - 10
- Factor Markets - Multiple Choice Questions - 16
- Marginal revenue (MR),
- Perfect Competition - Firm Demand - 3
- Monopoly - Profit Maximization - 1-6
- Monopolistic Competition - Introduction - 4-5, 10
- Oligopoly - Kinked Demand - 4
- Factor Markets - Factor Demand - 5-20
- Current Events - Productivity
- Marginal revenue product (MRP),
- Factor Markets - Factor Demand - 5-20
- Factor Markets - Market Power - 2-8
- Factor Markets - Firm Hiring - 2-4
- Factor Markets - Multiple Choice Questions - 1-4,9
- Current Events - Productivity
- Marginal technical rate of substitution (MTRS)
- See Marginal rate of technical substitution
- Marginal utility (MU)
- Consumer Choice - Curves - 8
- Consumer Choice - Surplus - 1-2, 6-8
- Consumer Choice - Utility - 6-12
- Consumer Choice - Utility Maximization - 4-11
- Consumer Choice - Multiple Choice Questions - 1-4
- Consumer Choice - Advanced Multiple Choice Questions - 1-6
- Marginal willingness to pay (MWP)
- Consumer Choice - Surplus - 7
- Consumer Choice - Utility - 3-7, 12
- Consumer Choice - Utility Maximization - 2-6
- Industry Policy - Efficiency - 9-10
- Marginal willingness to sell (MWS)
- Industry Policy - Efficiency - 11-12
- Marketable pollution credits,
- See Pollution - credits
- Market adjustment,
- Demand & Supply - Market Adjustment - 1-22
- Elasticity - Market Adjustment - 1-12
- Current Events - Cheap European Flights
- Current Events - Cheap "Leather" Clothes
- Current Events - The Dot-com Super Bowl
- Current Events - Energy Usage
- Current Events - French Food Tax
- Current Events - Rising Ice Cream Prices
- Current Events - Super Bowl Commercials
- Current Events - Surf Fashions
- Current Events - Tall Christmas Trees
- Current Events - Video Conference of Fly?
- Current Events - Wholesale Electricity Prices
- Market economies,
- Factor Markets - Market-Factors - 1,16
- Market equilibrium,
- See Equilibrium
- Market failure,
- Externalities - Marketable Pollution Credits - 8
- Market power,
- Factor Markets - Market Power - 1
- Market price,
- Demand & Supply - Introduction - 2-4,9,10,11,12,13
- Demand & Supply - Equilibrium - 1,4-8,10,13,14
- Demand & Supply - Demand Shift - 1,3,4
- Demand & Supply - Supply Shift - 1-3,6-8,11
- Demand & Supply - Market Adjustment - 1,12,21,22
- Elasticity - Introduction - 1
- Perfect Competition - Cost Change - 11
- Perfect Competition - Equilibrium - 1
- Perfect Competition - Firm Supply - 7
- Maximum efficient scale (Max ES),
- Production Costs - Long Run Costs - 8-9
- Merger (s),
- Monopoly - Introduction - 5
- Industry Policy - Antitrust Law - 8-9
- Microeconomics
-
- Microsoft,
- Industry Policy - Antitrust Law - 1, 14-15
- Current Events - Microsoft Sued by Department of Justice
- Current Events - Microsoft Found Guilty of Antitrust Violations
- Minimum efficient scale (Min ES),
- Production Costs - Long Run Costs - 8-9
- Minimum of Average Total Cost (ATC),
- See Average Total Cost - minimized
- Minimum wage,
- Factor Markets - Market Power - 12-16
- Current Events - U.S. Minimum Wage Increase
- Minimum wage law,
- Factor Markets - Market Power - 12-13
- Current Events - U.S. Minimum Wage Increase
- Monopolistic competition
-
- change in costs,
- Monopolistic Competition - Cost Change - 1-14
- Monopolistic Competition - Multiple Choice Questions - 5,8,9,10
- characteristics of,
- Monopolistic Competition - Introduction - 2-10
- definition of,
- Monopolistic Competition - Introduction - 1
- demand curve for,
- Monopolistic Competition - Introduction - 4
- demand in monopolistically competitive markets
- marginal revenue and demand,
- Monopolistic Competition - Demand Change - 1-11
- and efficiency
- Industry Policy - Structure & Efficiency - 1,14-18,20
- Industry Policy - Multiple Choice Questions - 10
- entry barriers,
- Monopolistic Competition - Entry Barriers - 1-9
- Monopolistic Competition - Multiple Choice Questions - 7,11
- exit from industry,
- Monopolistic Competition - Introduction - 9-10
- Monopolistic Competition - Multiple Choice Questions - 2
- free entry into industry,
- Monopolistic Competition - Excess Capacity - 1
- Monopolistic Competition - Multiple Choice Questions - 1,3
- long run,
- Monopolistic Competition - Multiple Choice Questions - 6,9
- and losses,
- Monopolistic Competition - Cost Change - 3, 10
- Monopolistic Competition - Excess Capacity - 4
- and marginal cost,
- Monopolistic Competition - Introduction - 5
- Monopolistic Competition - Cost Change - 2
- Monopolistic Competition - Multiple Choice Questions - 3
- and marginal revenue,
- Monopolistic Competition - Introduction - 4-5, 10
- Monopolistic Competition - Cost Change - 8-13
- Monopolistic Competition - Demand Change - 2, 8, 9, 11
- and profit,
- Monopolistic Competition - Demand Change - 4
- Monopolistic Competition - Cost Change - 7
- Monopolistic Competition - Excess Capacity - 2
- Monopolistic Competition - Multiple Choice Questions - 5,8,9,10
- profit maximization in,
- Monopolistic Competition - Demand Change - 9
- Monopolistic Competition - Cost Change - 2, 10
- Monopolistic Competition - Excess Capacity - 4
- Monopolistic Competition - Multiple Choice Questions - 4
- Monopoly
-
- change in costs,
- Monopoly - Introduction - 2
- Monopoly - Multiple Choice Questions - 6,7,10,14
- characteristics of,
- Monopoly - Introduction - 2
- definition of,
- Monopoly - Introduction - 1-5
- demand curve for,
- Monopoly - Profit Maximization - 4
- Monopoly - Multiple Choice Questions - 8,9
- demand in monopoly markets
- and efficiency
- Industry Policy - Structure & Efficiency - 1,7-13,20
- marginal revenue and demand,
- Monopoly - Profit Maximization - 4-6
- Current Events - Weather Based Soda Prices
- entry barriers,
- Monopoly - Entry Barriers - 1-17
- exit from industry,
- Monopoly - Introduction - 2
- Monopoly - Profit Maximization - 14
- long run,
- Monopoly - Entry Barriers - 13-14, 17
- Monopoly - Profit Maximization - 13-14, 16
- Monopoly - Multiple Choice Questions - 3
- and losses,
- Monopoly - Introduction - 1-5
- Monopoly - Profit Maximization - 8, 14-15
- natural,
- Production Costs - Long Run Costs - 4
- Monopoly - Introduction - 5
- Industry Policy - Natural Monopoly - 1-8
- Industry Policy - Multiple Choice Questions - 2, 11
- and marginal cost,
- Monopoly - Profit Maximization - 7
- Monopoly - Multiple Choice Questions - 16,17
- and marginal revenue,
- Monopoly - Profit Maximization - 1-6
- Monopoly - Demand Change - 1, 3, 7
- Monopoly - Multiple Choice Questions - 13
- Current Events - Weather Based Soda Prices
- and price discrimination,
- Monopoly - Price Discrimination - 1-9
- Monopoly - Multiple Choice Questions - 4,5,12
- Current Events - Weather Based Soda Prices
- and profit,
- Monopoly - Introduction - 3
- Monopoly - Profit Maximization - 2-16
- Monopoly - Multiple Choice Questions - 2,11,15
- profit maximization in,
- Monopoly - Profit Maximization - 7-12
- Monopoly - Multiple Choice Questions - 1,2,3
- Current Events - Weather Based Soda Prices
- Current Events - Microsoft Sued by Department of Justice
- Current Events - Microsoft Found Guilty of Antitrust Violations
- Monopoly rents,
- See Economic rents
- Monopsonist,
- Factor Markets - Market Power - 4-19
- Factor Markets - Multiple Choice Questions - 1,12
- Monopsony,
- Factor Markets - Market Power - 4-20
- Factor Markets - Multiple Choice Questions - 1,12,13
- Movement along demand curve,
- See Demand curve - movement along
- Movement along supply curve,
- See Supply curve - movement along
N
- Nash equilibrium
- See Game theory - nash equilibrium
- Natural monopoly
- See Monopoly - natural
- Necessity goods,
- Elasticity - Demand - Income - 7-9, 16, 21
- Negative relationship,
- Also termed Inverse relationship
- Introduction - Graphs - 6,7
- Demand & Supply - Introduction - 4,6,14
- Nonlinear pricing,
- Monopoly - Price Discrimination - 2
- Nonlinear relationship,
- Introduction - Graphs - 5,7
- Non-rivalness in consumption of public goods,
- See Public good - non-rivalness
- Normal goods,
- Demand & Supply - Demand Shift - 5-9,22
- Elasticity - Demand - Income - 1, 6-11, 18
- Consumer Choice - Income and Substitution Effect - 1
- Elasticity - Multiple Choice Questions - 13,14
O
- Oil market,
- Current Events - Energy Use
- Current Events - Oil Price Increases
- Oil prices,
- Current Events - Energy Use
- Current Events - Oil Price Increases
- Oil Producing Countries (OPC),
- Current Events - Oil Price Increases
- See also Organization of Petroleum Exporting Countries (OPEC)
- Oligopolists' dilemma. See also Game theory - dilemma
- Oligopoly - Introduction - 7
- Oligopoly - Dilemmas - 1, 9
- Oligopoly - Repeated Games - 1-2, 11
- Oligopoly - Multiple Choice Questions - 2,7,10
- Current Events - Oil Price Increases
- Current Events - TV Election Coverage
- Current Events - TV Reruns
- Oligopoly
-
- characteristics of,
- Oligopoly - Introduction - 1-7
- and collusion,
- See Collusion
- demand curve for,
- See Kinked demand curve
- demand in oligopoly markets
- and efficiency
- Industry Policy - Structure & Efficiency - 1,19-20
- and game theory,
- See Game theory
- and marginal cost,
- Oligopoly - Kinked Demand - 5-6
- Oligopoly - Multiple Choice Questions - 16
- and marginal revenue,
- Oligopoly - Kinked Demand - 4-6
- Oligopoly - Multiple Choice Questions - 14
- and product differentiation,
- Oligopoly - Introduction - 2, 7
- and profit,
- Oligopoly - Dominant Strategy - 2-4, 10
- Oligopoly - Multiple Choice Questions - 15,17
- and profit maximization,
- Oligopoly - Introduction - 3-4
- Oligopoly - Game Theory Introduction - 2
- Oligopoly - Kinked Demand - 1, 3, 6
- Oligopoly - Multiple Choice Questions - 12
- and sequential games,
- See Game theory - sequential games
- OPEC (Organization of Petroleum Exporting Countries),
- See Organization of Petroleum Exporting Countries (OPEC)
- Opportunity cost,
-
- Optimal provision of public goods. See also Allocative Efficiency
- Public Economics - Optimal Provision - 1-3
- Public Economics - Free Rider - 1, 3
- Organization of Petroleum Exporting Countries (OPEC),
- Current Events - Energy Use
- Current Events - Oil Price Increases
- Output (s)
-
- Own price elasticity of demand,
- See Price elasticity of demand
P
- Patent (s)
-
- 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
- and efficiency
- Industry Policy - Structure & Efficiency - 1-6,20
- entry into and exit from industry,
- Perfect Competition - Introduction - 2, 6
- Perfect Competition - Equilibrium - 3
- examples of,
- Perfect Competition - Multiple Choice Questions - 1-28
- and factor markets,
- Factor Markets - Factor Demand - 6-13
- Factor Markets - Firm Hiring - 2
- Factor Markets - Multiple 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 - Multiple Choice Questions - 3
- long-run equilibrium,
- Perfect Competition - Equilibrium - 3-14
- Perfect Competition - Multiple 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 - Multiple Choice Questions - 27
- profit maximization in,
- Perfect Competition - Short Run - 3
- Perfect Competition - Firm Supply - 4
- Perfect Competition - Multiple Choice Questions - 4,20
- in the short run,
- Perfect Competition - Short Run - 1
- Perfect Competition - Multiple Choice Questions - 1,3,7,16,26
- short run equilibrium,
- Perfect Competition - Equilibrium - 14
- Perfect Competition - Demand Change - 4
- Perfect Competition - Multiple 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 - Multiple Choice Questions - 1,10-13,20,23
- Perfect price discrimination,
- Industry Policy - Multiple Choice Questions - 14
- Perfectly elastic
-
- Perfectly inelastic
- See also Inelastic demand
- Pollution
-
- abatement (reduction),
- Externalities - Optimal Pollution - 2-9
- 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
- and efficiency,
- Industry Policy - Efficiency - 1,6,7
- Industry Policy - Structure & Efficiency - 5
- 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
-
- Positive relationship between variables,
- Introduction - Graphs - 5-6
- Demand & Supply - Introduction - 9,10,14
- Predatory pricing,
- Industry Policy - Antitrust Law - 2
- Preferences,
- Consumer Choice - Preferences - 1-7
- Introduction - Multiple Choice Questions - 11
- See also Utility
- Present value,
- Factor Markets - Present Value - 1-19
- Price,
- See Market price
- Price ceiling,
- Demand & Supply - Equilibrium - 8,10-14
- Demand & Supply - Multiple Choice Questions - 7
- Price discrimination,
- Industry Policy - Natural Monopoly - 6
- Current Events - Oil Price Increases
- See Perfect price discrimination
- Price elasticity of demand (Own Price),
-
- Price fixing,
- Industry Policy - Antitrust Law - 8
- Price floor,
- Demand & Supply - Equilibrium - 8-10,12,14
- Demand & Supply - Multiple Choice Questions - 6
- Current Events - U.S. Minimum Wage Increase
- Price inelastic demand,
- See Inelastic demand
- Price of complements,
- Demand & Supply - Demand Shift - 1,18
- Price of substitutes,
- Demand & Supply - Demand Shift - 1,14
- Price support,
- Demand & Supply - Equilibrium - 9,10
- Demand & Supply - Equilibrium - 14
- Demand & Supply - Multiple Choice Questions - 6-7
- 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 - dilemmas
- Private good (s)
-
- Private marginal cost of production (PMC),
- Externalities - Industry Structure - 2-6
- Producers' surplus
-
- Product differentiation,
- Perfect Competition - Introduction - 5
- Monopolistic Competition - Excess Capacity - 5
- Monopolistic Competition - Introduction - 3, 6
- Production costs,
- Demand & Supply - Supply Shift - 1,4-5,11
- Demand & Supply - Market Adjustment - 4
- Production Costs - Introduction - 1
- Production Costs - Multiple Choice Questions - 1-17
- Factor Markets - Multiple Choice Questions - 8
- Current Events - Cheap "Leather" Clothes
- Current Events - The Dot-com Super Bowl
- Current Events - Rising Ice Cream Prices
- Current Events - TV Reruns
- Production possibilities frontier (PPF),
- Introduction - PPF - 5
- Introduction - Multiple Choice Questions - 3
- Current Events - Hurricanes and Strikes
- Productive efficiency
- Industry Policy - Efficiency - 1-17
- Industry Policy - Structure & Efficiency - 4,6,9-10,13,16,18
- Production possibilities set,
- Introduction - PPF - 14
- Production technology,
- Introduction - PPF - 15-17
- Demand & Supply - Introduction - 13
- Introduction - Multiple Choice Questions - 6,9
- Factor Markets - Firm Hiring - 25
- Productivity,
- Introduction - PPF - 18
- Production Costs - Cost Shift - 3, 4
- Production Costs - Cost Change - 2
- Monopoly - Multiple Choice Questions - 10,11
- Factor Markets - Factor Demand - 16-20
- Factor Markets - Market Power - 24
- Factor Markets - Multiple Choice Questions - 7,9
- Externalities - Optimal Pollution - 1
- Current Events - Productivity
- Products,
- See Outputs
- Profit (s),
- Production Costs - Introduction - 1
- Production Costs - Multiple Choice Questions - 23
- Elasticity - Own Price - Revenue - 10
- Factor Markets - Multiple Choice Questions - 7
- Current Events - Drug Bust
- Current Events - Oil Price Increases
- Current Events - Productivity
- Profit maximizing firm
-
- Property tax
- See Taxes - property
- Public economics,
- Public Economics - Introduction - 1
- Demand for Public Goods
- Optimal Provision
- Free Rider
- 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
- Purchase decisions,
- Consumer Choice - Purchasing - 1
- Purchasing,
- Consumer Choice - Purchasing - 1
- Pure private good (s),
- Public Economics - Introduction - 2
- Pure public good (s),
- Public Economics - Introduction - 2
- Public Economics - Free Rider - 1
Q
- Quantity demanded
-
- Quantity supplied
-
- Quota,
- Current Events - Tariff on Luxury Goods
R
- Rate-base pricing,
- Industry Policy - Natural Monopoly - 6
- Industry Policy - Multiple Choice Questions - 11
- 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 - 8
- 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
- Industry Policy - Natural Monopoly - 1-8
- 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 - Income & Substitution Effect - 1-2, 6
- Consumer Choice - Income & Substitution Effect - 2, 8
- Consumer Choice - Income & Substitution Effect - Utility Compensation - 2, 8
- Consumer Choice - Income & Substitution Effect - Expenditure Compensation - 2, 8
- Rent, Economic
- See Economic rents
- Rent control,
- Demand & Supply - Equilibrium - 8
- Rent control laws,
- Demand & Supply - Equilibrium - 8
- 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 - Multiple Choice Questions - 5,8,16
- raised by excise tax,
- Consumer Choice - Taxation - 5-23
- Consumer Choice - Multiple Choice Questions - 7, 9, 11, 20, 21
- raised by tariff,
- Current Events - Tariff on Luxury Goods
- and surplus,
- Consumer Choice - Surplus - 9-10
- shown graphically,
- Perfect Competition - Short Run - 5
- Risk,
- Monopoly - Entry Barriers - 7
- Oligopoly - Mixed Strategies - 5
- Robinson-Patman Act,
- Industry Policy - Antitrust Law - 7
- Rule of reason doctrine,
- Industry Policy - Antitrust Law - 4
- Industry Policy - Multiple Choice Questions - 8
S
- Salary (ies),
- Perfect Competition - Short Run Equilibrium - 5
- Monopolistic Competition - Entry Barriers - 4
- Factor Markets - Economic Rents - 2
- Factor Markets - Factor Prices - 19
- Current Events - TV Reruns
- See also Factors of production - wage
- Sales
-
- Sales tax,
- See Taxes - sales
- Savings,
- Factor Markets - Present Value - 2
- Satisfaction,
- See Utility
- Scale economies
- See Economies of scale
- Schedule
- Demand & Supply - Introduction - 14
- Sector
-
- Service sector
- See Sector - service
- Sequential games,
- See Game Theory - Sequential Games
- Sherman Antitrust Act,
- Industry Policy - Antitrust Law - 3
- Current Events - Microsoft Sued by Department of Justice
- Current Events - Microsoft Found Guilty of Antitrust Violations
- Shortage,
- Demand & Supply - Equilibrium - 1,6,7,11,12
- Demand & Supply - Multiple Choice Questions - 7
- Current Events - Drug Bust
- Short run,
- Production Costs- Short & Long Run - 1
- Perfect Competition - Short Run - 1
- Perfect Competition - Multiple Choice Questions - 1,3,7,16,26
- Short-run costs,
- Production Costs - Fixed and Variable Costs - 1
- Short-run equilibrium,
- Perfect Competition - Equilibrium - 14
- Perfect Competition - Demand Change - 4
- Perfect Competition - Multiple Choice Questions - 2
- Short-run shut down,
- Perfect Competition - Short Run Shut Down - 1
- Shut down price,
- Perfect Competition - Equilibrium - 2
- Slope in graph construction,
- Introduction - Production Possibilities - 6
- Consumer Choice - Budget Constraints - 6
- Consumer Choice - Utility Maximization - 2
- Consumer Choice - Curves - 6
- Consumer Choice - Utility - 11
- Social cost (s),
- Externalities - Introduction - 2
- Externalities - Industry Structure - 2
- Externalities - Pollution Taxes - 1-4
- Industry Policy - Efficiency- 14
- See also Cost-benefit analysis
- See also Social marginal cost
- Social marginal cost of production (SMC),
- Industry Policy - Efficiency - 6-8
- Externalities - Industry Structure - 2-6
- Social regulation,
- See Regulation
- Spending power,
- Consumer Choice - Income and Substitution Effect - 5
- Stock (s),
- Demand & Supply - Demand Shift - 19
- Stock prices,
- Current Events - Oil Price Increases
- Subsidy, Pigouvian
- Externalities - Pollution Taxes - 3-5
- Substitute goods (substitutes),
- Demand & Supply - Introduction - 6,8
- Demand & Supply - Equilibrium - 2
- Demand & Supply - Demand Shift - 1,11-15,18,22
- Elasticity - Demand - Cross Price - 1
- Elasticity - Multiple Choice Questions - 10,11
- Factor Markets - Multiple Choice Questions - 6,7
- Current Events - Tariff on Luxury Goods
- Current Events - Video Conference of Fly?
- Substitution effect (of a price change),
- Consumer Choice - Income And Substitution Effect - 2
- Factor Markets - Factor Supply - 7
- Factor Markets - Multiple Choice Questions - 5
- Supply
-
- change in ,
- Demand & Supply - Market Adjustment - 1
- definition of,
- Demand & Supply - Supply Shift - 1
- desired quantity supplied,
- Demand & Supply - Introduction - 2,4,9,10,12-14
- Demand & Supply - Equilibrium - 1,4-6,14
- Demand & Supply - Supply Shift - 1
- expectations,
- Demand & Supply - Law of Supply - 4
- graphing supply,
- Demand & Supply - Introduction - 11
- supply equation,
- Demand & Supply - Introduction - 4,11,14
- Demand & Supply - Equilibrium - 2
- Demand & Supply - Supply Shift - 2
- Demand & Supply - Multiple Choice Questions - 5
- Supply curve
-
- Supply elasticity,
- Elasticity - Supply - 2
- Supply of labor,
- Factor Markets - Factor Supply - 1-18
- Current Events - U.S. Minimum Wage Increase
- Supply of labor curve,
- Factor Markets - Factor Supply - 2-18
- Factor Markets - Market Power - 6-23
- Factor Markets - Multiple Choice Questions - 5,7,8,11-14
- Supply schedule,
- Demand & Supply - Introduction - 14
- Support price,
- See Price support
- Surplus,
- Demand & Supply - Equilibrium - 1,4,5,7,9,10,14
- Demand & Supply - Multiple Choice Questions - 6
- See also Consumers' surplus
- See also Producers' surplus
T
- Table showing demand and supply schedule,
- Demand & Supply - Introduction - 4,5,11
- Demand & Supply - Equilibrium - 3
- Demand & Supply - Demand Shift - 14,18,22
- Demand & Supply - Supply Shift - 11
- Demand & Supply - Market Adjustment - 10-12,21
- Tacit collusion,
- See Collusion
- Takeover,
- Industry Policy - Structure & Efficiency- 7,8
- Tariff,
- Current Events - Tariff on Luxury Goods
- See Two-Part Tariff
- Tastes and demand,
- Demand & Supply - Introduction - 8
- Demand & Supply - Demand Shift - 1-6,22
- Demand & Supply - Market Adjustment - 3
- See also Preferences
- See also Utility
- Tax burden,
- Current Events - Cigarette Tax
- Current Events - Tariff on Luxury Goods
- Taxation,
- Consumer Choice - Taxation - 1-24
- Taxes
-
- ad valorem,
- Consumer Choice - Taxation - 3
- Current Events - French Food Tax
- See also Taxes - sales
- excise,
- Consumer Choice - Taxation - 2
- Current Events - Cigarette Tax
- and subsidies,
- Externalities - Pollution Taxes - 3, 5
- Pigouvian,
- Externalities - Pollution Taxes - 1-2, 4
- pollution,
- Externalities - Pollution Taxes - 1-5
- property,
- Production Costs - Fixed and Variable Costs - 1-2
- Perfect Competition - Cost Change - 1
- Monopolistic Competition - Cost Change - 9
- Monopoly - Cost Change - 8,11
- Production Costs - Multiple Choice Questions - 12
- Perfect Competition - Multiple Choice Questions - 26-28
- sales tax,
- Current Events - Cigarette Tax
- Tax incidence,
- Current Events - Cigarette Tax
- Current Events - Tariff on Luxury Goods
- Tax shift,
- Current Events - Cigarette Tax
- Technical efficiency
- Industry Policy - Efficiency - 1-17
- Industry Policy - Structure & Efficiency - 3,8,13,15,18-20
- Technical rate of substitution (TRS),
- See Production technology
- See Rate of substitution
- Technology,
- See Production technology
- Total cost,
- Production Costs - Marginal Cost - 2
- Perfect Competition - Short Run - 4
- Production Costs - Multiple Choice Questions - 8
- Perfect Competition - Multiple Choice Questions - 5,10
- Current Events - Law School Applications Up
- Total fixed costs (TFC),
- Perfect Competition - Short Run - 2
- Production Costs - Multiple Choice Questions - 1,2,5,10,11
- Perfect Competition - Multiple Choice Questions - 12
- Total profit
-
- Total revenue,
- See Revenue
- Total utility,
- Consumer Choice - Surplus - 2, 7
- Consumer Choice - Utility - 6-12
- Consumer Choice - Utility Maximization - 7-10
- Consumer Choice - Multiple Choice Questions - 1, 4
- Total variable costs (TVC),
- Production Costs- Cost Computation - 2
- Perfect Competition - Short Run - 6, 11
- Production Costs - Multiple Choice Questions - 9
- Tradable pollution credits,
- See Pollution - credits
- Trade,
- Trade - Introduction - 1
- Trade - Comparative Advantage - 1
- Trade - Gains from Trade - 1
- Trade - Terms Of Trade - 1
- Trade - Trade Restrictions - 1
- Trade - Multiple Choice Questions
- See Federal Trade Commission
- Trade barriers,
- Current Events - Tariff on Luxury Goods
- Trademark,
- Current Events - Name Game 98
- trade-off (s),
- Introduction - Production Possibilities - 1
- Consumer Choice - Curves - 5
- Factor Markets - Multiple Choice Questions - 10
- Transportation,
- Demand & Supply - Production Costs - 1
- Production Costs- Short Run Costs - 1
- Production Costs- Cost and Profit - 3
- Perfect Competition - Cost Change- 1
- Transportation business,
- Current Events - Oil Price Increases
- Trust fund,
- Factor Markets - Factor Supply - 9
- Trusts,
- Industry Policy - Antitrust Law - 2
- Two-Part Tariff,
- Industry Policy - Natural Monopoly - 7
- Industry Policy - Multiple Choice Questions - 5
- Tying Contracts,
- Industry Policy - Antitrust Law - 6
- Industry Policy - Multiple Choice Questions - 8
- Current Events - Microsoft Found Guilty of Antitrust Violations
U
- Unemployed resources,
- Introduction - PPF - 14,18
- Introduction - Multiple Choice Questions - 10
- Current Events - Hurricanes and Strikes
- Unemployment,
- Demand & Supply - Multiple Choice Questions - 1
- Monopolistic Competition - Cost Change - 1
- Factor Markets - Market Power - 13, 16
- Introduction - Multiple Choice Questions - 10
- Current Events - Holiday Employment
- Current Events - Hurricanes and Strikes
- Current Events - U.S. Minimum Wage Increase
- Unions,
- See Labor unions
- U.S. Bureau of Census,
- Elasticity - Multiple Choice Questions - 13
- U.S. Department of Energy,
- Current Events - Energy Use
- U.S. Department of Justice,
- Monopoly - Introduction - 5
- Industry Policy - Antitrust Law - 11,14
- Current Events - Productivity
- Current Events - Microsoft Sued by Department of Justice
- Current Events - Microsoft Found Guilty of Antitrust Violations
- U.S. Department of Labor,
- Current Events - Productivity
- U.S. economy,
- Current Events - Holiday Employment
- Current Events - Hurricanes and Strikes
- U.S. workers,
- Current Events - Productivity
- See also Workers
- Utility, economic definition
- Demand & Supply - Expectations - 2
- Consumer Choice - Introduction - 2
- Consumer Choice - Utility - 1-12
- See also Preferences
- See also Marginal utility
- See also Total utility
- Utility compensation,
- Consumer Choice - Income & Substitution Effect - 7
- Consumer Choice - Income & Substitution Effect - Utility - 1-28
- Utility maximization,
- Consumer Choice - Utility Maximization - 1
V
- Variable costs
-
- Variable factors (inputs)
- See Factors of Production - Variable Factors
- Variables
-
- Vertical Axis,
- Demand & Supply - Introduction - 5
- Vertical Mergers,
- Industry Policy - Antitrust Law - 9
- Very long run
-
Vote, Electoral, U.S.,
Current Events - TV Election Coverage
W
- Wage discrimination,
- Factor Markets - Multiple Choice Questions - 13
- Wage rate,
- Production Costs - Cost Shifts - 4,5
- Factor Markets - Firm Hiring - 2,4,13
- Current Events - U.S. Minimum Wage Increase
- Wages,
- Demand & Supply - Introduction - 9
- Demand & Supply - Multiple Choice Questions - 1
- Current Events - Holiday Employment
- See also Factors of production - wage
- Wealth, distribution of
- Current Events - Demand for Mansions
- Current Events - Tall Christmas Trees
- Workers,
- Current Events - Holiday Employment
- Current Events - Productivity
- Current Events - U.S. Minimum Wage Increase
X
- X axis, in graphs
- Introduction - Graphs - 2
Y
- Y axis, in graphs
- Introduction - Graphs - 2
Z
- Zero profit
-
Copyright © 1995-2005 OnLineTexts.com, Inc. - All Rights Reserved