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AP Microeconomics: Graphs! Flashcards

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9616105547Production Possibilities; U is inefficient0
9616105548Production Possibilities; x is impossible1
9616105549Production Possibilities; right shift indicates economic growth2
9616105550market equilibrium3
9616105551consumer surplus4
9616105552producer surplus5
9616105553increased demand = higher price and quantity6
9616105554decreased demand = lower price and quantity7
9616105555increased supply = lower $ and higher #8
9616105556decreased supply = higher $ and lower #9
9616105557price floor; causes a surplus10
9616105558price ceiling; causes a shortage11
9616105559perfect competition at equilibrium12
9616105560perfect competition making a profit13
9616105561perfect competition making a loss14
9616105562perfect competition in a "shut down" position15
9616105563monopoly making a profit16
9616105564monopoly making a loss17
9616105565monopolistic competition at equilibrium18
9616105566supply and demand for labor19
9616105567perfectly competitive demand for labor20
9616105568monopsonistic competition for labor21
9616105569a negative externality causes too many to be produced at too low a price22
9616105570a positive externality causes too few to be produced at too low a price23
9616105571the lorenz curve; measures income inequality24
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