Microeconomics: Explore & Apply, Activebook |
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active concept check active graphs activebook average cost average variable cost capital causes ceteris paribus change in quantity Chapter Wrap-Up choices coconuts consumer surplus cost curve countries deadweight loss decrease demand curve drug earnings elasticity of demand equals equilibrium price example Explore & Apply exports firm firm's demand hands-on understanding higher income increase industry inelastic input marginal cost marginal product marginal revenue marginal utility market equilibrium market price maximization minimum wage monopolist monopolistic competition monopoly normal profit oligopoly opportunity cost percentage change pollution price discrimination producer surplus production possibilities frontier profit-maximizing purchase pure competition quantity demanded quantity of output quantity Quantity quantity supplied rise sell sellers shown in Figure slope social surplus supply curve Table test your knowledge total cost total fixed cost total revenue total utility total variable cost trade utility per dollar vouchers wage rate Wal-Mart workers