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Microeconomics
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Jacob Clifford
Flashcards
11 cards
F
Practice quiz
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Host live
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Questions
11
Answers
1
What follows MR on a Perfectly Competitive graph?
Stacy Hetsel
S
DARP
Price
2
What Type of Relationship does Law of demand have?
Inverse
Direct
Diminishing
Elastic
3
what is microeconomics about
Law of supply and demand
Inferior Goods
Cents
Scarcity
4
How can monopolistic competition can lead to inefficiency and excess capacity?
Quantity is greater than Marginal Cost
Price is greater than marginal cost
Price is greater than marginal revenue
Quantity is less than Marginal cost
5
Why is demand downward slopping?
It's not
Law of demand says so
Law of diminishing marginal returns
Law of supply says so
6
What type of relationship does the law of supply have?
Inverse
Inelastic
Divorce
Direct
7
Who made Game Theory
Clifford
Rutherford
Nash
Obama
8
How many FRQs are on the Microeconomics Exam?
1.5
3
5
4
9
Game Theory applies to which market structure
Oligopoly
Monopolistic
Monopoly
Perfectly Competitive
10
MR_MC
<
Jacob Clifford
=
>
11
Where does Jacob Clifford live?
South Cakalakee
Microstan
Jacob Clifford
13463 Calle Colina Poway, CA 92064
