Matching Pairs Microeconomics Module 8Online version Yay! We love econ! It’s so much fun! by Sofia Silva 1 Perfectly Price Discriminating Monopoly 2 Single Price Monopoly 3 Average Cost Curve 4 Exogenous Shock 5 Tax Incidence 6 Market Clearing Price 7 Elasticity 8 Pareto Efficient 9 Increasing Returns to Scale 10 Perfectly Competitive A market with a large number of buyers and sellers that can freely enter and exit. A market with one supplier where the price is unique to each consumer and maximizes the individual’s willingness to pay When production inputs double, output more than doubles A market equilibrium where a change in price or quantity would make either the supplier or the consumer worse off The zero-profit isoprofit curve The effect of a 1% change in price on the quantity demanded A market with only one supplier and a set price for all consumers A price where there is no excess supply or demand The distribution of a tax across consumers and suppliers A force outside of the market that influences supply and/or demand
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