# on 23-Aug-2019 (Fri)

#### Flashcard 1426369416460

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If the value of exports in a country is greater (less) than the value of imports, then there is a [...] .

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If the value of exports equals the value of imports, then trade is balanced. If the value of exports is greater (less) than the value of imports, then there is a trade surplus (deficit) .

#### Flashcard 1428111363340

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#cfa #cfa-level-1 #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
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[...] is used by economists to underscore that the reference is to the price of a good itself and not the price of some other good.

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utomobile prices are measured in thousands. Note that the sign on the own-price variable is negative, thus, as the price of gasoline rises, per household weekly consumption would decrease by 0.4 gallons for every dollar increase in gas price. <span>Own-price is used by economists to underscore that the reference is to the price of a good itself and not the price of some other good.<span><body><html>

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3.1. The Demand Function and the Demand Curve
e purchased and driven; hence less gasoline will be consumed. As will be discussed later, such a relationship would indicate that gasoline and automobiles have a negative cross-price elasticity of demand and are thus complements. <span>To continue our example, suppose that the price of gasoline (P x ) is $3 per gallon, per household income (I) is$50,000, and the price of the average automobile (P y ) is \$20,000. Then this function would predict that the per-household weekly demand for gasoline would be 10 gallons: 8.4 − 0.4(3) + 0.06(50) − 0.01(20) = 8.4 − 1.2 + 3 − 0.2 = 10, recalling that income and automobile prices are measured in thousands. Note that the sign on the own-price variable is negative, thus, as the price of gasoline rises, per household weekly consumption would decrease by 0.4 gallons for every dollar increase in gas price. Own-price is used by economists to underscore that the reference is to the price of a good itself and not the price of some other good. In our example, there are three independent variables in the demand function, and one dependent variable. If any one of the independent variables changes, so does the value

#### Flashcard 1450693496076

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Marginal cost follows a [...] pattern.
J-shaped

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Marginal cost follows a J-shaped pattern whereby cost initially declines but turns higher at some point in reflection of rising costs at higher production volumes.

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it is not necessarily consistent with maximizing total profit. In Exhibit 13, the least-cost point of production is 3 units; ATC is 75, derived as [(225 ÷ 3) or (33.3 + 41.7)]. Any other production level results in a higher ATC. <span>Marginal cost (MC) is the change in total cost divided by the change in quantity. Marginal cost also can be calculated by taking the change in total variable cost and dividing by the change in quantity. It represents the cost of producing an additional unit. For example, at 9 units marginal cost is 300, calculated as [(1,300 – 1,000) ÷ (9 – 8)]. Marginal cost follows a J-shaped pattern whereby cost initially declines but turns higher at some point in reflection of rising costs at higher production volumes. In Exhibit 13, MC is the lowest at 2 units of output with a value of 25, derived as [(175 – 150) ÷ (2 – 1)]. <span><body><html>

#### Flashcard 4344852385036

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irst Law 1. "Energy can neither be created nor destroyed"
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#### Flashcard 4344883055884

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C'est l'ensemble de phénomènes cycliques que subit l'appareil génital féminin chaque mois afin de préparer l'organisme à une éventuelle grossesse

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#### Flashcard 4344884104460

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Ça commence à la puberté et se termine à la ménopause

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#### Flashcard 4344888560908

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Ces phénomènes sont sous une dépendance hormonale dont la direction est assurée par l'axe hypothalamo-lypophysaire

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#### Flashcard 4344890133772

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le premier jour du cycle correspond au premier jour des règles

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#### Flashcard 4344891706636

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La croissance de l'endomètre recommence dès le 5e jour et se poursuit pendant tout le cycle : de 0,5 mm à la fin de la menstruation, il passe à 3 mm au moment de l'ovulation pour atteindre 5 mm au 28e jour du cycle

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#### Flashcard 4344892755212

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Phase préovulatoire: phase folliculaire - Dure 13 à 14 jours.

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#### Flashcard 4344893803788

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