And miles to go before I sleep.....And miles to go before I sleep.
IB economics@yELLOWSUBMARINER
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  • 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)
      • 2.11: theory of firm
      • 2.12: equity
    • 600 Dictionary List
    • Assessment >
      • Internal Assessment
      • Process Folio + Grading
      • Extended Essays
  • Big Ideas
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    • Submariner Resources
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    • News Logs
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    • 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 + Growth
      • 3.2 Inflation
      • 3.3 Unemployment + HDI
      • 3.4 Taxation + Inequality + Poverty
      • 3.5 Indices
      • 3.3 HDI + Happy Planet Index
      • 3.5 AD + AS
      • 3.6 sustainability
    • 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!
99 Big Questions 2.11
2.11 Big Ideas 2.11
You Tube 2.11
Quizlet
IBQ
Picture
IBQ samples
2112  Class Notes (2)
2111 Class Notes (1)
Syllabus 2.11


Theory of the Firm ​  
Picture
Picture
1560 LR Diagrams for 1.5
1548 Revision Mindmap
Introduction:
VID 6: 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
VID 1: Foodie on Perfect
Costs:
2112 Intro to Competition
153 Cost Curves
153 (2) Economies of Scale
154 Efficiency: 2 Types
156 DMR+Scale
VID 7: Diminishing Returns: Welker on DMR
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


VID 2: Foodie on Monopolistic
VID 3: Tutor 2 U: Monopolistic
VID 11: Tutor 2 U: Oligopoly
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
VID 4: Foodie on Oligopoly
VID 5: 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
VID 6: Tutor 2 U - Monopoly
VID 9:  Monopoly and Economies of Scale
VID 10: Monopoly + Welfare Loss
VID 8: Marginal Revoluion on 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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