Inequality
AP Microeconomics · Flashcards · Recall
AP MICROECONOMICS · FLASHCARDS
Card 1
of 31
0 got it
0 to review
Current
Got it
Still learning
Not seen
QUESTION
What inequality indicates substitutes using cross-price elasticity
E
x
y
E_{xy}
E
x
y
?
QUESTION
What inequality indicates complements using cross-price elasticity
E
x
y
E_{xy}
E
x
y
?
QUESTION
What inequality must hold for a firm to produce in the short run at price
P
P
P
?
Tap to flip before you grade
ANSWER
Produce if
P
g
e
A
V
C
P ge AVC
P
g
e
A
V
C
. Firm covers variable costs and contributes to fixed costs.
Swipe → got it · swipe ← still learning
Got it
Still learning
Flip Card
Previous card
Next card