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    Average cost curves (except for average fixed cost) tend to be U-shaped, decreasing and then increasing. Marginal cost curves have the same shape, though this may be harder to see since most of the marginal cost curve is increasing. Why do you think that average and marginal cost curves have the same general shape?

    The course author didn't provide an answer for this question

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Questions & Answers

Method of distribution
Emma Reply
hello
Nuhu
hi
Paramount
sap
raphael
Am nuhu from Ghana and u?
Nuhu
Jamaica
Paramount
Am nuhu from Ghana and u?
Nuhu
what's your objective to learning economics
Paramount
am Nuhu from Ghana and u?
Nuhu
To become an Economist
Nuhu
hi
Junior
nice meeting u guyz
Nuhu
we can all meet when we come up on difficulties to resolve them
Paramount
yh
Nuhu
yeah !
abhinav
hi guys
tapir
@Paramount OO i leave in south africa
Thembelihle
+233553906165
Nuhu
we can me more chat
Nuhu
hey guys
praveen
what's upp?
praveen
kuul
Nuhu
How is everyone here? it is King Wobokolo saying hi from Uganda
Lugumya
juxtapose indisputable fact of scarcity
Adebayo Reply
what is opportunity cost?
Humphrey
Opportunity cost is the want sacrificed to satisfy another want.
Joseph
opportunity cost is a forgone alternative, example if a consumer wants to buy a book Nd a pen but he does not have the money for both then he drops the pen Nd buys the book..... so the pen that he dropped Is the opportunity cost
chimdindu
a.o.a..
Imran
opportunity cost is the alternative forgone or goods that is left on satisfied in order to satify another want
richmond
it is also the satisfaction of a want with the expense of another want
richmond
what is surplus value theory
Ayunku
what does the law demand and supply states
Humphrey
hello
Nuhu
the law of demand state that at a higher price less is demanded and at low price more is demanded
Nuhu
the law supply state that at a higher price more is demanded and at a low price less is demanded
Nuhu
THE LAW OF DEMAND states that, All other things being equal, at a higher price, consumers demand less and at a lower price more is demanded. THE LAW OF SUPPLY states that, All other things being equal, producers produce more quantity at a higher price and less at a lower price.
Joseph
what is the law of diminishing returns?
Humphrey
the of diminishing returns state that the continues addition of fixed to a variable factor of production may lead to an increase in marginal production but at a point in time marginal production may diminished or falls
Nuhu
what is the equilibrium quantity
Zinna Reply
differentiate between equilibrium and equilibrium point
Adebayo
Leo Robinson's definition
Adejimi Reply
how is equilibrium defined in financial markets?
Babakura Reply
the concept of it
DALOM
Country A has export sales 20 billion, government purchases 1000billion, business investment is 50 billion, imports are 40billion, and consumption spending is 2000billin. What is the dollar value of GDP ?
Habtamu Reply
What are the method of distribution
Emma
what is determination of national income?
Waqar Reply
economic growth
Rukaiya
stock of capital
Rukaiya
we're RBI keep money with them
Anil
Y =C+l
Favour
evaluate the success affirmative action as one of south Africa's redress method
Tebatso Reply
what is market equilibrium
explorer Reply
it is a situation in which the supply of an item is exactly equal to it dd .
Ssmith
inder wat condition shld a firm stop production in both short n lungrun ?
Ssmith
what is 2nd degree price discrimination?
Ssmith
what is quantity
Tettey
what is quantity2
Deji Reply
An indefinite amount of something.
explorer
what is the opportunity cost of producing 20 loaves of bread?
Zinna
what is demand
Kaman Reply
in ordinary sense demand means desire
Khalid
demand in economics means both willingness as well as the ability to purchase a commodity by paying a price an also its actuall purchase
Khalid
what is absolute advantage
Khalid
demand refers to the various quantity of goods and services that consumers are willing and able to purchase at a particular period of time all other things been equal
Dela
The amount of a good or service that consumers are willing to buy at a particular price.
explorer
what is cost pull inflation?
oru
what is utility
oru
what is cost pull inflation?
oru
demand is economic principle referring to a consumer's desire and willingness to pay a price for a specific or service..
Babakura
utility is the among of certisfaction driving from using a comundity
Anas
pull cost of inflation hight population unemployment to some of The country members poor government system
Anas
what is a buffer scheme
Lukong
state the second law of demand and supply
Ahmadou Reply
state the law of diminishing marginal utility
Ahmadou
dt know WATS the answer
Rukundo
mention and explain two Bank I financial institutions and two non baking financial institutions
Onah Reply
wat is demand pull inflation
Tony Reply
Demand-pull inflation is asserted to arise when aggregate demandin an economy outpaces aggregate supply. It involvesinflation rising as real gross domestic product rises and unemployment falls, as the economy moves along the Phillips curve.
kevin
Perfectly elastic demand
Abubakar Reply
this is a form of demand where goods are demanded at a constant price
Rukundo
what inelastic demanding
Koire
demand of any good demanded more after a certain period. if a commodity prices may high and scarcity of that resources.
Anil
cannot demand more
Anil

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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