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Top Monopoly Flashcards

Monopoly/Oligopoly/Perf Comp.

Cards: 57| Attempts: 26| Last updated: Sep 16, 2015

The Formula For Total Revenue (TR).

Total Revenue = Price X Quantity TR = P X ...

The Formula For Average Revenue (AR).

Average Revenue = Total Revenue/quantity A...

The Formula For Marginal Revenue (MR).

Marginal Revenue = The Change In Total Revenu...

In The Long-run What Characteristic Of Perfec...

Because In Perfect Competitive Markets Margin...

Chp 11: The Measurement And Sources Of Monopoly Power

Cards: 38| Attempts: 4| Last updated: Sep 18, 2015

Monopoly-

Polar Opposite Of Perfect Competition In That...

Faces Market Demand Curve For Its Product Bec...

The Sole Seller Of The Product; Has Control O...

Monopoly Power-

Some Control Over Price, Some Ability To Set ...

Monopoly's Demand Curve Slopes...

Downward- Constrasts Horizontal Demand Curve ...

Harberger. Monopoly.

Cards: 8| Attempts: 2| Last updated: Sep 30, 2015

In The Monopoly Model, How Do We Measure The...

· Tr...

Why Does Harberger Need To Use The Assump...

· Mo...

Why, If The Elasticity Of Demand Is Equal...

· Lo...

Why Did Harberger Have To Be So Careful I...

· Ec...

Chp 13: Monopolistic Competition And Oliopoly

Cards: 40| Attempts: 1| Last updated: Sep 18, 2015

Monopolistic Competition-

Resembles Both Competition And Monpoly; 1. As...

Determination Of Market Equilibrium In Monpol...

First Step Is Understand Demand Curve *When F...

Short Run Firm In Monpolistically Competitive...

Attracted By Prospect Of Profits, New Firms E...

Demand Curve Is Downward Sloping, Marginal Re...

Marginal Revenue = Marginal Cost

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