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| What allows a firm to charge a price greater than marginal cost? |
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| of a good, produced at too high of a price |
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| A negative externality in a perfectly competitive market yeilds too much of |
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Rivalrous
EX: movie tickets, bathroom |
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Definition
As we use it, it gets used up
We can't use it together.EX? |
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Public Good
EX: sunrise, T.V., public radio, public park |
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| Non-exclusive/ Non-rivalrous |
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| Firms themselves won't provide ads but industry will. EX: Got Milk? |
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| What ads might you see in a perfectly competitive industry? |
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| People consume in excess without having to pay for it. |
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| Shouldnt exist in a perfectly competitive market |
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| Long run economic profits? |
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| Reduce externality to when Marginal Cost= |
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| Gov't goods are not always |
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| Average Total cost in the long run |
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| Monopolisticly competitive firms produce where price= |
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| incentive based regulation |
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| Regulation where firms can choose technologies and pollution reduction strategies that make the most sense to them |
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| U.S. market structure most represtents |
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| Marginal Cost of clean up |
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Definition
| Externality costs are determined by setting Marginal Benefit of clean up = to |
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| A perfectly competitive good with a sales tax places the burden on |
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| You need to decrease price, so you decrease quantity supply and increase in quantity demanded. |
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Definition
| When there is excess quantity supply, how do you return to the equlibrium? |
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| Negative and greater than the absolute value of one. |
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Definition
| 2 complementary goods, before absolute value |
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| When you can cover all variable costs and some fixed costs |
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Definition
| When would a frim operate at a loss in the short run? |
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| If a firm cannot cover all its variable costs it? |
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| Goods A & B are substitutes. Production costs of A increase... Price of A & B does what? |
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Definition
| On a linear demand cuvre there is an increase of price on the elastic portion, What happens to total revenue? |
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| Greater than Marignal Revenue |
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Definition
| Monopolistic frim lowers price of all units to sell one more unit, Price is always going to be ...? |
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Definition
| In a market that is at a non-equlibrium there is always going to be? |
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Term
| Income elasticity of demand |
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Definition
| The % change in DEMAND due to a % change in income. |
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| Average costs & output. A change in Average costs and how it affects the output. |
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Definition
| Economies of Scale reffers to ? |
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Price- not sure
Q- increases |
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Definition
| Huge heat wave hits U.S. when AC becomes easier to get. What happens to price of AirC? and quanitity? |
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| In a monopoly making a loss the Average Total cost is ________ the demand curve? |
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Definition
| In a monopoly making a profit the Average Total cost is ________ the demand curve? |
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Term
speech topic- consider audience & occasion
central idea-
general purpose- inform,persuade, entertain
specific purpose-specify behavior you seek from the audience |
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Definition
| difference between speech topic, central idea, general purpose, and specific purpose? |
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Term
1.Planned
2.Formal
3.Roles and audience is clearly defined |
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Definition
| different forms conversation: |
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Term
verbal trans: In add, therefore, in summary
nonverbal- change in facial express, vocal pitch, speaking rate
previews- internal preview/summary |
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Definition
| types of verbal and nonverbal signposts ? |
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Term
Atten getter
Reason to listen
Subject
Est Credibility
Preview Main pts |
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Definition
| purposes and elements of introductions and conclusions to a speech? |
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Term
Inro: humor, quote, ?, anecdotes, hist. personal.moccasion, perceding speeches, recent events.
Con: Re-emp. central idea, main ideas, use verbal/non cues to signal end, motivate ppl to respond |
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Definition
| effective methods of introducing and concluding a speech? |
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Term
1. speaking to enhance understanding
2. speaking to maintain interest
3. speaking to be remembered |
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| goals of informative speaking? |
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1. speaking to enhance understanding
2. speaking to maintain interest
3. speaking to be remembered |
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Definition
| goals of informative speaking? |
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Term
Speeches about:
Objects
Procedures
People
Events
Ideas |
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Definition
| types of informative speeches ? |
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Term
1. Speak with clarity
2. Use principles & techniques about learning
3. Clarify unfamiliar ideas/ complex processes
4.Use effective visual reinforcement |
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Definition
| Informative strategies to enhance audience reactions? |
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