微观经济学术语

Absolute advantage Accounting cost

Actual return

Actuarially fair

Adverse selection Advertising elasticity of demand Advertising-to-sales ratio Arbitrage

Arc elasticity of demand

Asset beta

Asymmetric information Auction markets

Average expenditure

Average fixed cost

Average product

Average total cost

Average variable cost

Bandwagon effect

Barrier to entry

Bertrand model

Bilateral monopoly

Block pricing

Budget constraints

Budget line

Bundling

Capital asset pricing model Cardinal utility function

Chain-weighted price index Coase theorem

Common property resource Common-value auction Company cost of capital Comparative advantage Complements

Completely inelastic demand Constant returns to scale Constant-cost industry Consumer price index Consumer surplus

Cntract curve

Cooperative game

Corner solution

Cost function

Cost-of-living index

Cournot model

Cross-price elasticity of demand Cyclical industries

Deadweight loss

Decreasing-cost industry Decreasing returns to scale

Degree of economies of scope Derived demand

Deviation

Diminishing marginal utility Discount rate

Diseconomies of scale

Dis economies of scope Diversifiable risk

Dominant firm

Dominant strategy

Duality

Duopoly

Economic cost

Economic efficiency

Economic rent

Economies of scale

Economies of scope

Edgeworth box

Effective yield (or rate of return) Efficiency wage

Pareto efficient allocation

Engel curve

Equal marginal principle Equilibrium in dominant strategies Equilibrium (or market-clearing) price Excess demand

Excess supply

Exchange economy

Expansion path

Expected return

Expected utility

Expected value

Extensive form of a game

Extent of a market

Externality

Factors of production

First-degree price discrimination First-price auction

Fixed cost

Fixed input

Fixed-proportions production function Fixed-weight index

Free entry (exit)

Free rider

Game

General equilibrium analysis

Giffen good

Hicksian substitution effect Horizontal integration

Human capital

Ideal cost-of-living index

Import quota

Income-consumption curve

Income effect

Income elasticity of demand Increasing-cost industry Increasing returns to scale Indifference curve

Individual demand curve

Infinitely elastic demand Intertemporal price discrimination Isocost line

Isoelastic demand curve

Isoquant

Kinked demand curve model

Labor productivity

Law of diminishing marginal returns Learning curve

Least-squares criterion

Lerner index of monopoly power Linear demand curve

Linear regression

Long run

Long-run average cost curve

Long-run competitive equilibrium Long-run marginal cost curve

Marginal benefit

Marginal cost

Marginal expenditure

Marginal external cost

Marginal rate of substitution Marginal rate of technical substitution Marginal rate of transformation Marginal revenue product

Marginal social benefit

Marginal social cost

Marginal utility

Market basket (or bundle)

Market definition

Market demand curve

Market failure

Market mechanism

Market power

Market signaling

Maximin strategy Method of Lagrange multipliers Mixed bundling Monopolistic competition Monopoly

Monopsony

Moral hazard

Mutual fund

Nash equilibrium

Natural monopoly Negatively correlated variables Net present value criterion Network externality

Nominal price Noncooperative game Nondiversifiable risk Nonexclusive goods

Nonrival good

Normative analysis

Oligopoly

Oligopsony

Opportunity cost

Optimal stratege

Ordinal utility function

Parallel conduct

Partial equilibrium analysis Payoff matrix

Peak-load pricing

Perfect complements

Perfect substitutes

Perfectly competitive markets Point elasticity of demand Positively correlated variables Predatory pricing

Present discounted value

Price discrimination

Price leadership

Price of risk

Price rigidity

Price signaling

Price support

Price taker

Principal-agent problem Prisoners’ dilemma

Producer surplus

Product transformation curve Production contract curve Production possibilities frontier Public good

Pure bundling