And miles to go before I sleep.....And miles to go before I sleep.
IB economics@yELLOWSUBMARINER
  • Home
    • Why Study Economics?
  • CO 2023
    • HOME - Class of 2023
    • Submariner Resources (23)
    • Section 1: Intro
    • Section 2: Micro >
      • 2.1 Markets
      • 2.2 Supply
      • 2.3 Supply + Demand
      • 2.4 (HL) Behaviour: consumer+firm
      • 2.5: Elasticity (PeD + YeD)
      • 2.6: PeS
      • 2.7: intervention
      • 2.8 Market Failure
      • 2.9: market failure 2
      • 2.10 Market Failure (HL)
      • 2.11: theory of firm
      • 2.12: equity
    • Section 3: Macro >
      • 3.1 macro activity
      • 3.2 AD + AS
      • 3.3 macro objectives
      • 3.4 Inequality + Poverty
      • 3.5 monetary policy
      • 3.6 fiscal policy
      • 3.7 supply side
      • 13 Indices
    • Section 4: Global Economy >
      • 4.1 trade - why?
      • 4.2 trade protection 1
      • 4.3 trade protection 2
      • 4.4 integration
      • 4.5 exchange rates
      • 4.6 bop
      • 4.7 sustainability
      • 4.8 Measurement
      • 4.9 Barriers
      • 4.10 strategies
      • 13 Indices
    • 600 Dictionary List
    • Assessment >
      • Internal Assessment
      • Process Folio + Grading
      • Extended Essays
  • CO 2024
    • HOME - Class of 2024
    • Submariner Resources (24)
    • Section 1: Intro
    • Section 2: Micro >
      • 2.1 Demand
      • 2.2 Supply
      • 2.3 Supply + Demand
      • 2.4 (HL) Behaviour: consumer+firm
      • 2.5: Elasticity (PeD + YeD)
      • 2.6: PeS
      • 2.7: intervention
      • 2.8 Market Failure
      • 2.9: Failure - Public Goods
      • 2.10 Failure Asymetric (HL)
    • 600 Dictionary List
    • Assessment >
      • Process Folio + Grading
      • Internal Assessment
      • Extended Essays
  • Big Ideas
  • Study Skills
    • Economics
    • General
  • Bus + Econ
    • Homepage
    • Course Outline
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    • Submariner Resources
    • Work @ Class
    • Work @ Home
    • News Logs
    • Research: What's the News today?
    • Dictionary / Glossary
    • Process Folio + Grading
    • Unit 1: Introduction
    • Units 2: MICRO Business Firm + Mixed Market >
      • 2.1 Demand
      • 2.2 Supply
      • 2.3 Supply + Demand
    • Unit 3: Macroeconomics >
      • Macro Project
      • 3.1 GDP
      • 3.2 Inflation
      • 3.3 Unemployment + HDI
      • 3.4 Taxation + Inequality
      • 3.5 Indices
      • 3.3 HDI + Happy Planet Index
      • 3.5 AD + AS
    • Unit 4: Development + Trade
    • unit 5: Stockmarket
  • Example Bank - Newspapers
  • Example Bank - Video
  • HP 3 Bank
  • Revision - 8
    • Revision - 8 strategies
    • Dictionary-Lists
    • 23 Essential Diagrams
    • Big Ideas
    • Last minute Micro.com
    • Last minute Macro.com
    • Last minute Trade.com
    • Last minute Development.com
  • 'How to' in economics?
  • Survey
  • Conclusion: The End or maybe...the Start!
2.11 Big Questions
2.11 Big Ideas 2.11
Quizlet
2111 Class Notes (1)
2112  Class Notes (2)
Picture
IBQ samples
Syllabus 2.11


Theory of the Firm ​  
Picture
Picture
You Tube 1.5
1560 LR Diagrams for 1.5
1548 Revision Mindmap
Introduction:
Types of Market Structure
152 Research
2113: The Green Box
1591 Best Diagrams Advice
1549  Worksheet
Dictionary 2.11 Theory of the  Firm Dictionary:
  1. Incidence of a tax
  2. Perfectly elastic demand
  3. Perfectly inelastic demand
  4. Perfectly elastic supply
  5. Perfectly inelastic supply
  6. Resource allocation
  7. Short run costs
  8. Long run costs
  9. Production function
  10. Law of diminishing returns
Foodie on Perfect
Costs:
Is monopoly bad ?
What are the key objectives of firms?
Welker on DMR
2112 Intro to Competition
153 Costs
154 Efficiency
156 DMR+Scale
Dictionary 2.11 Theory of the  Firm Dictionary:

11. Economies of scale
12 Diseconomies of scale
13 Increasing returns to scale
14 Decreasing returns to scale
15 Constant returns to scale
16 Average output
17 Marginal output
18 Fixed factors of production
19 Variable factors of production
20 Variable costs


Foodie on Monopolistic
Revenues:
157 Price + Revenue
1592  Profit
1593 Goals of Firms
158 Price Discrimination
159 Surplus and Firms
Dictionary 2.11 Theory of the  Firm Dictionary:
21 Fixed costs
22 Average costs
23 Marginal costs
24 Average fixed costs
25 Average variable costs
26 Average total costs
27 ‘U’ shaped average cost curve
28 Profit maximising equilibrium
29 Supernormal profit
30 Accounting profit
Foodie on Oligopoly
Price Discrimination
Picture




4 Models of Competition:
Perfect Competition:
1594 Perfect
1595  Perfect Shut Down
Monopolistic ('mistic') Competition:
1596 Monopolisitc
Oligopoy Competition:
1597 Oligopoly (74)
Monopoly Competition:
1598 Monopoly (75)
Compare Models:
1588 Evaluate PC + Monopoly
1599 PC and Monopoly
Picture
Dictionary 2.11 Theory of the  Firm Dictionary:
31 Normal profit
32 Profit maximising equilibrium
33 Profit maximising level of output
34 barriers to entry
35 kinked demand curve
36 price discrimination
37 natural monopoly
38 price ‘taker’
39 price ‘maker’
40 collusion
41 cartel
42 shut down price /break even point

Foodie on Monopoly

                                               Hall of Fame

            Anti Competitive Behavoiour
Heineken Price Fixing

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