Economics

15 sweaters amount average product average total cost budget line bushels calculate capital chapter choices competitive consumer consumption cost curve decreases demand and supply demand curve dollar spent economic efficient elasticity of demand equal equilibrium example factors of production falls Figure firm firm's fixed cost graph hour household increases indifference curve input interest rate inventory isocost line isoquant least-cost technique Lisa Lisa's long-run average cost mand marginal cost marginal product marginal rate marginal revenue marginal revenue product million tapes monopoly movies and soda opportunity cost output percent perfect competition plant present value price change product curve production possibility frontier profit quantity demanded quantity supplied quantity traded rate of substitution relationship rent scale sell short-run six-packs slope supply curve Swanky Swanky's sweaters a day tapes a week tion total revenue units utility per dollar wage rate wealth workers zero