chapter 6 chapter 10 chapter 11 yellowstone
100
what is an inferior good
when income of demand is negative
100
budget constraint
the limited amount of income available to consumers to spend on goods and services
100
technology
the process a firm uses to turn inputs into outputs of good and services
100
revenue
Price x Quantity or $40 x # of Dogs
100
teeter
Who makes a chili out of 'sum bits' (ALL the bits from the cow) that doesn't go down particularly well in season 4, episode 4?
200
500 million
How much was John offered for the ranch by Market Equities?
200
income effect
the change in consumption that results when a price increase causes real income to decline
200
his father
Who did John make a promise to that he would never sell the ranch?
200
marginal product of labor
the additional output a firm produces as a result of hiring one more worker
200
season 4 episode 10
when did RIP and Beth get married (episode)?
300
Elasticity
A measure of how much one economic variable responds to changes in another economic variable.
300
Harvey weinstein
Whose name was removed from the credits before the show premiered?
300
total cost
The total expense incurred by a firm in producing and marketing a product. ____ ____ is the sum of fixed cost and variable cost.
300
law of diminishing returns
the principle that, at some point, adding more of a variable input, such as labor, to the same amount of a fixed input, such as capital, will cause the marginal product of the variable input to decline
300
colon cancer
John Dutton was diagnosed with .......... cancer?
400
cross-price elasticity of demand
% change in quantity demanded / % change in price of a related good
400
marginal
the change in total utility a person receives from consuming one additional unit
400
explicit cost
costs that require a firm to spend money
400
microeconomics
worst class ever
400
navy seal
What military service Kayce served ?
500
perfectly inelastic
quantity does not respond at all to changes in price (E=0)
500
substitution effect
when consumers react to an increase in a good's price by consuming less of that good and more of other goods
500
implicit costs
non monetary opportunity costs
500
perfectly competitive market
A market that meets the conditions of (1) many buyers and sellers, (2) all firms selling identical products, and (3) no barriers to new firms entering the market.
500
jimmmmmmy
Which character is told by their boss that they 'hope the good Lord gave you a big d*** because he sure shorted you on brains






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