AP eco- semester 1

if qd changes across all price levels, then this is

If price lowers, then

If a firm has profits, firms will _______, because it has ______________

A Monopolisitic competition can earn positive economic profits __________________

Household incomes decrease

If a firm does not get enough to cover its ____________, it will shut down

If the products are complements then the CPEd is ___________, substitutes CPEd is ____________

If consumers expect a lower price next year, then

If the PPF is Concave, then which of the following is not true?

Marginal cost is the ____________ in ____________ that results from producing one more unit 

Which of the following would  cause an outward shift in a production possibilities curve?

The MC curve is _____ shaped.  _______  causes it to begin increasing

Which of the following would cause a price increase for Pepsi

When Average revenue curve is flat, then

Collusion is illegal because

______________ is  a way of analyzing ______________ in an oligopoly

If the firm is a price taker it is a _______ and it means that _____

All SR cost curves will eventually rise except

Price decreases for hotdogs, then demand for hotdog buns____, they are ___, their CPed is ____

Which of the following is not a demand determinant?

A kinked demand curve means that  other firms in the oligopoly will follow ______, but not ___

Who is your favorite teacher?

If income increases and demand decreases then

equilibrium price occurs at

Which societies experience scarcity?

Which of the following is not a determinant of supply or demand

If one variable or resource is fixed then, 

When the Average cost curve is flat

If weather changes and demand increases, then this is a result of 

What grade are you going to get on this final exam?

If a firms MR=$100, ATC=$90, MC= 110

Diminishing marginal utility- as you consume more of a good _______________ decreases

In all societies scarcity exists, this means

If a product is inelastic and total revenue increases, then price must be  _____________

If income elasticity is negative, then 

____ intersects AVC and ATC at their minimum, if it is between AVC and ATC, then

All societies ration goods, either using rationing, prices or other methods

The law of demand states that

A movement along the supply curve is a 

If a firm has losses, supply will ___________, number of firms will _______, price will ____

If price and total revenue have an inverse relationship, then the product is

In the long run

In a PC, when firms are incurring losses, what is the result

If price increases, which of the following could be true?

Which of the following explains the positive slope of the supply curve

Ryleigh is the luckiest kid in the school because

The MC curve is the _________ curve, above _____________

Price ceilings occur ___________ equilibrium and causes _____________