Relier Pairs Microeconomics Module 8Version en ligne Yay! We love econ! It’s so much fun! par Sofia Silva 1 Market Clearing Price 2 Perfectly Price Discriminating Monopoly 3 Elasticity 4 Exogenous Shock 5 Increasing Returns to Scale 6 Perfectly Competitive 7 Tax Incidence 8 Pareto Efficient 9 Single Price Monopoly 10 Average Cost Curve A price where there is no excess supply or demand A market with a large number of buyers and sellers that can freely enter and exit. The distribution of a tax across consumers and suppliers A market equilibrium where a change in price or quantity would make either the supplier or the consumer worse off When production inputs double, output more than doubles The effect of a 1% change in price on the quantity demanded A force outside of the market that influences supply and/or demand A market with only one supplier and a set price for all consumers A market with one supplier where the price is unique to each consumer and maximizes the individual’s willingness to pay The zero-profit isoprofit curve
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