ECN2802
Summer 2009
Dr.
Dao
Price Elasticity of Demand
Total revenue and elasticity of demand
Determinants of Price elasticity of demand
Price Elasticity of Supply
Determinants of Price elasticity of Supply
Income Elasticity of Demand
Cross-Price Elasticity of Demand
Diminishing Marginal Utility
Total Utility vs. Marginal Utility
Consumer Equilibrium
Utility Maximization Condition
Consumer Surplus
Money Price and Time Price
Explicit vs. Implicit Costs
Accounting vs. Economic Profit
Total vs. Marginal Product
Diminishing Marginal Returns
Marginal Cost and Marginal Product
Variable vs. Fixed Cost
Marginal Cost
Average Variable Cost
Average Total Cost
Marginal and Average Cost