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6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | An antidrug policy which reduces the supply of heroin might | increase street crime because the addict's demand for heroin is highly inelastic | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Farmers often find that large bumper crops are associated with declines in their gross incomes. This suggests that | the price elasticity of demand for farm products is less than 1 | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The supply curve of antique reproductions is | A. relatively elastic | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Suppose the income elasticity of demand for toys is +2.00. This means that | a 10 percent increase in income will increase the purchase of toys by 20 percent | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The formula for cross elasticity of demand is percentage change in | quantity demanded of X/percentage change in price of Y | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Cross elasticity of demand measures how sensitive purchases of a specific product are to changes in | the price of some other product | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | We would expect the cross elasticity of demand between Pepsi and Coke to be | positive, indicating substitute goods | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Based on the concept of price elasticity of demand, which of the following cases is most likely to occur? | Colleges charging lower tuition for low-income students | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The utility of a good or service | is the satisfaction or pleasure one gets from consuming it | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Marginal utility can be | positive, negative, or zero | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The law of diminishing marginal utility states that | beyond some point additional units of a product will yield less and less extra satisfaction to a consumer | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Marginal utility is the | change in total utility obtained by consuming one more unit of a good | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Total utility may be determined by | summing the marginal utilities of each unit consumed | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | While eating at Alex's "Pizza by the Slice" restaurant, Kara experiences diminishing marginal utility. She gained 10 units of satisfaction from her first slice of pizza consumed, and would only receive 5 units of satisfaction from consuming a second slice. | Alex may have to lower the price to convince Kara to buy a second slice. | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The theory of consumer behavior assumes that | consumers behave rationally, attempting to maximize their satisfaction | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Suppose that MUx/Px exceeds MUy/Py. To maximize utility the consumer who is spending all her money income should buy | more of X and less of Y | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Refer to the above data. If the consumer has a money income of $52 and the prices of J and K are $8 and $4 respectively, the consumer will maximize her utility by purchasing | 4 units of J and 5 units of K | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Refer to the above data. What level of total utility is realized from the equilibrium combination of J and K, if the consumer has a money income of $52 and the prices of J and K are $8 and $4 respectively? | 276 utils | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Suppose that Ms. Thomson is currently exhausting her money income by purchasing 10 units of A and 8 units of B at prices of $2 and $4 respectively. The marginal utility of the last units of A and B are 16 and 24 respectively. These data suggest that Ms. Thomson | should buy less B and more A | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | If MUa/Pa = 100/$35 = MUb/Pb = 300/? = MUc/Pc = 400/?, the prices of products b and c in consumer equilibrium | are $105 and $140 respectively | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Answer the question on the basis of the following total utility data for products L and M. Assume that the prices of L and M are $3 and $4 respectively and that the consumer's income is $18 | 2 of L and 3 of M | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Refer to the above data. What level of total utility does the rational consumer realize in equilibrium | 51 utils | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The theory of consumer behavior assumes that consumers attempt to maximize | total utility | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | If the prices of X and Y are $2 and $4 per unit, respectively, and this consumer has $10 in income to spend, to maximize total utility this consumer should buy | 1 units of X and 2 units of Y | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | How did Apple overcome consumers' diminishing marginal utility for iPods | Apple introduced new features to entice previous buyers to purchase new models | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The diamond-water paradox occurs because | the price of a product is related to its marginal utility, not its total utility | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Why do credit card companies typically require small minimum payment amounts on their customers' monthly credit card statements | Credit card companies want to increase profits by promoting slower repayment, and actual customer payments will be anchored by the smaller payment requirements | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The budget line shows | all possible combinations of two goods that can be purchased, given money income and the prices of the goods | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Increases in product prices shift the consumer's | budget line to the left | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The slope of a budget line reflects the | price ratio of the two products | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Assume the price of product Y (the quantity of which is on the vertical axis) is $15 and the price of product X (the quantity of which is on the horizontal axis) is $3. Also assume that money income is $60. The absolute value of the slope of the resulting budget line | is 1/5 | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | At each point on an indifference curve: | total utility is the same | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | An indifference curve | is downsloping and convex to the origin | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | An indifference map implies that | curves farther from the origin yield higher levels of total utility | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Assume a diagram in which a budget line is imposed on an indifference map. A consumer will maximize her utility | where the budget line is tangent to an indifference curve | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Refer to the above diagram. Suppose the budget line shifts so that the consumer's equilibrium changes from point A to point B. This means that the: | price of Y has decreased | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | To the economist, total cost includes | explicit and implicit costs, including a normal profit | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Accounting profits equal total revenue minus | total explicit costs | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Economic profits are calculated by subtracting | explicit and implicit costs from total revenue | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Normal profit is | the return to the entrepreneur when economic profits are zero | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year. If the firm sold 4,000 units of its output at $300 per unit, its accounting profits were | . $200,000 and its economic profits were zero. | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | To economists, the main difference between the short run and the long run is that: | in the long run all resources are variable, while in the short run at least one resource is fixed | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The basic characteristic of the short run is that | barriers to entry prevent new firms from entering the industry | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The law of diminishing returns indicates that | as extra units of a variable resource are added to a fixed resource, marginal product will decline beyond some point | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Which of the following statements concerning the relationships between total product (TP), average product (AP), and marginal product (MP) is not correct? | AP continues to rise so long as TP is rising | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Which of the following is correct? | Marginal product rises faster than average product and also falls faster than average product. | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Refer to the above data. When two workers are employed | total product is 18 | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Which of the following is correct as it relates to cost curves? | Marginal cost intersects average total cost at the latter's minimum point | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Assume that in the short run a firm is producing 100 units of output, has average total costs of $200, and average variable costs of $150. The firm's total fixed costs are: | $5,000 | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Average total cost is | total fixed cost plus total variable cost divided by quantity of output | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | If marginal cost is | rising, then average total cost could be either falling or rising | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Economies and diseconomies of scale explain | why the firm's long-run average total cost curve is U-shaped | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | . If marginal cost is | . rising, then average total cost could be either falling or rising | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | When diseconomies of scale occur | the long-run average total cost curve rises | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Which of the following is not a source of economies of scale | inelastic resource supply curves | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | Diseconomies of scale arise primarily because | of the difficulties involved in managing and coordinating a large business enterprise | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | A cost that cannot be partly or fully recovered through any subsequent action is known as a | . sunk cost. | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | The minimum efficient scale of a firm | is the smallest level of output at which long-run average total cost is minimized | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
6b13a278__midterm_Flashcards___Cram_com__esponsiveness_to_price_changes | When a firm does more of something, it gets better at it. This learning-by-doing is | a source of economies of scale | [] | econ midterm Flashcards - Cram.com | buyer responsiveness to price changes | http://www.cram.com/flashcards/econ-midterm-2450593 | 31/1438042988924.75_20150728002308-00146-ip-10-236-191-2_375391341_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Arter of round ligament (branch of obturator) & branches of lateral and medial circumflex femoral | Blood supply to head of femur | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Important in childhood, not so much in adult | Importance of artery of round ligament | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Medial circumflex a. | Primary blood supply to femoral head in adults | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Neck | Common femoral fracture location | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Lesser | Which trochanter points medially | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Iliopsas | Muscle attachments to lesser trochanter | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Gluteal, piriformis, obturator internus | Muscle attachments to greater trochanter | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] -Iliofemoral ligament -Anterior | -Attachment to interotrochanteric line -Location of interotrochanteric line | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] -Posteriorly -Quadratus femoris | Intertrochanteric crest -Location -Attachements | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] -Anterior and posterior cruciate ligaments -Higher incidence of anterior cruciate ligament injury | Intercondylar notch allows for passage of ______ --narrow notch correlated with | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Patella | Biggest sesamoid bone in the body | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] totally surrounded by tendon | Sesamoid means | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Articulation with tibia (no articulation with fibia) | Condyles on femur are for: | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Transmit weight | Trabecular bone function | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Lumbosacral plexus, lateral brach of subcostal | Cutaneous innervation is all branches of ________, except ______ | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Crural fascia | Fascia lata changes name to _____ after knee | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] -Femoral (except pectineus) -Flex hip, extend knee -Directly off femoral & deep femoral | Anterior compartment -Nerve -Generalized function -Blood supply | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] 1. Sartorius 2. Inguinal ligament 3. Adductor longus | Femoral triangle boundaries (SIA) 1. 2. 3. | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] 1. Pectineus 2. Iliopsas 3. Adductor longus | Floor of femoral triangle (PIA) | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Femoral -Nerve -Artery -Vein -Lymphatics | Contents of femoral triangle (Lateral to medial: NAVL) | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] -Femoral a. -Femoral v. -Lymphatic nodes *nerve lies most lateral, outside of femoral sheath | Femoral sheath contents -Lateral compartment -Middle -Medial *Nerve location | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Wholes made by lymph nodes | Cribriform fascia named for | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] 1. Sartorius 2. Gracilis 3. Semitendonosis | Tendons at the Pes Ancerinus [Beauty Queen - Sash, Graceful, Tall] 1. 2. 3. | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Femoral vessels | Only things passing through adductor hiatus | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] 1. Saphenous n. 2. Femoral vessels 3. Descending genicular a. 4. Nerve to vastus medialis | Structures passing through adductor canal | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] Apex of femoral triangle; adductor hiatus | Adductor canal extends from____, ends at _____ | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
fb023407__2_Thigh_Flashcards___Cram_com__Head_of_femur_articulates_with | [Acetabulum] 1/2 way between pubic tubercle and anterior superior iliac spine | To find femoral pulse, feel: | [] | Block 2 Thigh Flashcards - Cram.com | Head of femur articulates with | http://www.cram.com/flashcards/block-2-thigh-1817022 | 31/1438042989018.48_20150728002309-00064-ip-10-236-191-2_383773159_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] Implied Contract | one formed by an indication of assent other than specific words; using water and light indicates acceptance of utility services | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] Void Contract | an agreement that had no legal effect and was invalid from the start, such as an agreement to commit murder | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] Voidable Contract | One or both parties may chose to avoid or may ratify; applied to contracts of minors | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] Unenforceable contract | One that cannot be enforced because of the defenses to the contract; ex. statute of limitations | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] Executory Contract | one in which some obligation or duty remains to be done by one or more parties | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] Executed Contract | A contract in which all parties have fully performed their obligations | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] Three criteria to create a valid, enforceable contract | 1) existence of MUTUAL ASSENT 2) existence of CONSIDERATION 3) absence of DEFENSES that would prevent enforcement of the contract | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] Criteria for "mutual assent" | The terms of the offer must be DEFINITE and CERTAIN (identify of offeree and and a definite subject matter). It must also be communicated to the offerree. There must be an offer and acceptance | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] What are things that constitute a termination of an offer | 1) Revocation 2) Rejection 3) Lapse of Time 4) Termination of Operation of Law | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] Name the types of limitations on revocation powers | 1. Option 2. UCC Firm Offer 3. Detrimental Reliance 4. Part Performance of a Unilateral Contract | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] What is an OPTION? | It is an independent contract in which the offeror received separate consideration from the offeree to keep an offer open for a stated period of time. | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] What is a UCC FIRM OFFER? | A firm offer by a merchant to buy or sell goods, represented by a signed writing that promises to hold the offer open for a stated time, cannot be revoked for lack of consideration during that time. | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] What is DETRIMENTAL RELIANCE? | Detrimental reliance prevents revocation of an offer for a reasonable time when the offeror should expect that the offeree would rely on the offer to his or her detriment. | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
2a9ff21d_w__full__Flashcards___Cram_com__t_conferred_upon_the_defendant | [Quasi Contract] What is PAST PERFORMANCE OF A UNILATERAL CONTRACT? | Where a performance has been started but is not complete, it would be unfair to allow the offeror to revoke the offer | [] | Chapter 11 - Contract Law (full) Flashcards - Cram.com | Not a contract' legal jargon created by courts to prevent unjust enrichment of a defendant by allowing the plaintiff to seek restitution of a benefit conferred upon the defendant | http://www.cram.com/flashcards/chapter-11-contract-law-1906230 | 31/1438042989018.48_20150728002309-00104-ip-10-236-191-2_389890821_0.json |
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