经济学0800(国外英语资料).docVIP

经济学0800(国外英语资料) Said in a certain period of time the demand of a commodity, the relative change in the reaction degree of relative change of the commodity price. 21.: the price elasticity of supply for short supply elasticity. Definition: the change of supply commodity rate and price change rate. The law of diminishing marginal returns: the same in 22. level conditions, when other inputs constant, increasing the input of a variable factor in production, when the total amount of this investment is less than a certain value, increase the amount of the total output of each unit increase in the investment caused by the marginal yield (i.e.) continue to increase; but when the total variable input exceeds a certain value, increase the amount of total output of each unit increase in the variable brought into is gradually reduced. ? the price elasticity of supply price elasticity demand income effect substitution effect of demand 23. short: in this period of at least one of the production inputs can not be changed. The 24. term: in this period is long enough so that any production inputs can be changed. The law of diminishing marginal product 25.: with the increasing of the variable input, the marginal product of the variable brought into the final will be gradually reduced, the final will be equal to zero or even less than zero. The 26. elements of the marginal rate of substitution: also known as the marginal rate of technical substitution, represented by the symbol MRTS, sometimes simply expressed as RTS and MRS, said in the output unchanged conditions, increase a certain factor of production units can also replace a factor of production value. 27. increasing returns to scale: when all inputs increase by the same proportion, the increase in output will be greater than the proportion. 28. constant returns to scale: when all inputs increase by the same proportion, the output is increased by the same proportion. Diminishing returns to scale 29.: when all inputs increase by t