AP MIcro Flashcards
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| 14042837896 | MC = MR | Stop producing | 0 | |
| 14042839083 | MC > MR | Produce less | 1 | |
| 14042840408 | MC < MR | produce more | 2 | |
| 14042841749 | Relatively price elastic | Price down, Revenue Up / Price Up , Revenue Down | 3 | |
| 14042843686 | Relatively Price Inelastic | Price UP, Revenue Down/ Price Down, Revenue Up | 4 | |
| 14042850253 | % change in QD/ % change in P | coefficinet of elasticity | 5 | |
| 14042852249 | If coefficient of elasticity = > 1 | Elastic | 6 | |
| 14042853130 | If coefficient of elasticity = < 1 | Inelastic | 7 | |
| 14042853560 | If coefficient of elasticity = 1 | Unit Elastic | 8 | |
| 14042857394 | Price elasticity of demand | negative | 9 | |
| 14042858466 | Price elasticity of supply | positive | 10 | |
| 14042858996 | cross- price elasticity = + | substitute | 11 | |
| 14042861291 | cross- price elasticity = - | complement | 12 | |
| 14042862684 | income elasticity = + | normal | 13 | |
| 14042864193 | income elasticity = - | inferior | 14 |