Micro 1
What is equilibrium?
These firms are few and far in between, having almost full control of the goods they sell
What is a monopoly
Federalists often warned about the mischiefs of these groups of people, modern day political parties
What are factions
Anti-federalists signed this name at the bottom of all their documents
What is brutus
This was the first cat that the sir ever got (mmmm... cheese!)
Who is Mozzarella
The change in costs as more product is made is known as this (MC)
What is marginal cost?
If a point on a graph is INSIDE the Production Possibilities Curve, it is said to be _________
The federalists wrote under this name in all of their documents
What is publius
This court case covered the "voluntary" prayer at the start of New York public schools, stating that the Establishment Clause was being broken, for students were "forced" to respect an establishment of religion
This state, known for beaches and sunshine, is where the sir moved from 4 years ago
What is California
This profit maximizing point is utilized in perfectly competitive markets, imperfectly competitive markets, and monopolies
What is MC = MR
10 or less of these firms control the market, selling similar products and having a relatively large amount of control over price
What are oligopolies
When Alfonzo brought a gun to a Texas high school, the commerce clause was brought in to try and justify this court case
What is United States v. Lopez (1995)
This court case came to the conclusion that sending children to school beyond 8th grade was not required if it contradicted their religious beliefs
What is Wisconsin v. Yoder
Before sporting his brand new 2022 Toyota Corolla, the sir was seen whippin this old lemon around (Make and Model)
What is Toyota Camry
In this scenario, a firm should shut down production and follow the shutdown rule when ______ is below ______
This "triangle" on a graph shows us money that is completely lost, not going to either the consumer OR producer
What is deadweight loss
Combining several pieces of legislation into one bill to secure enough votes for passage is known as
What is logrolling
In this supreme court case, students practiced their 1st amendment right to protest the Vietnam war
What is tinker v. Des Moines
The sir aint lookin to good nowadays, it must be because he's turning ______ this month
At times filled with thousands of firms, this market structure has many competitors that results in sellers not being able to change the price of their goods
What is a perfectly competitive market
In a perfectly competitive market, the supply of a good suddenly increases. This results in the price ________
What is decreasing
To try and sneak a law within a bill on the house/senate floor would be known as this (oink oink)
What is pork barrel legislation
Oh my god, this guy won't stop yapping on the senate floor! He's not letting us vote on this bill! The person is __________
What is filibustering
Although born in the United States, this state in Mexico is where his parents are from
What is Jalisco