8. Glossary
- Action profile
- Average product
- Average fixed cost
- Average variable cost
- Best response functions
- Competitive equilibrium
- Constant cost industry
- Constant returns to scale
- Consumers' surplus
- Conditional input demand functions
- Cournot's duopoly model
- Decreasing cost industry
- Decreasing returns to scale
- Efficient scale of production
- Fixed cost
- Homothetic production function
- Increasing cost industry
- Increasing returns to scale
- Inferior input
- Isocost line
- Isoquant
- Long run competitive equilibrium
- Long run supply function
- Marginal product
- Marginal rate of technical substitution
- Nash equilibrium
- Natural monopoly
- Oligopoly
- Normal input
- Output expansion path
- Pareto stability
- Producers' surplus
- Production function
- Short run average cost
- Short run competitive equilibrium
- Short run marginal cost
- Short run supply function
- Short run total cost
- Strategic game
- Supply function
- Total cost function
- Total product
- Variable cost