Log in to StudySoup
Get Full Access to Business - Textbook Survival Guide
Join StudySoup for FREE
Get Full Access to Business - Textbook Survival Guide

Already have an account? Login here
Reset your password

Poetics Solutions

Do I need to buy Poetics to pass the class?

ISBN: 978-0486295770

Poetics - Solutions by Chapter

Do I need to buy this book?
1 Review

76% of students who have bought this book said that they did not need the hard copy to pass the class. Were they right? Add what you think:

Poetics Student Assesment

Myriam from University at Buffalo said

"If I knew then what I knew now I would not have bought the book. It was over priced and My professor only used it a few times."

Textbook: Poetics
Author: Aristotle
ISBN: 978-0486295770

This expansive textbook survival guide covers the following chapters: 0. The full step-by-step solution to problem in Poetics were answered by , our top Business solution expert on 10/03/18, 03:09PM. Poetics was written by and is associated to the ISBN: 978-0486295770. Since problems from 0 chapters in Poetics have been answered, more than 200 students have viewed full step-by-step answer. This textbook survival guide was created for the textbook: Poetics, edition: .

Key Business Terms and definitions covered in this textbook
  • adverse selection

    the tendency for the mix of unobserved attributes to become undesirable from the standpoint of an uninformed party

  • appreciation

    an increase in the value of a currency as measured by the amount of foreign currency it can buy

  • Arrow’s impossibility theorem

    a mathematical result showing that, under certain assumed conditions, there is no scheme for aggregating individual preferences into a valid set of social preferences

  • benefits principle

    the idea that people should pay taxes based on the benefits they receive from government services

  • complements

    two goods for which an increase in the price of one leads to a decrease in the demand for the other

  • constant returns to scale

    The property whereby long-run average total cost stays the same as the quantity of output changes

  • corrective tax

    a tax designed to induce private decision makers to take account of the social costs that arise from a negative externality

  • cost

    the value of everything a seller must give up to produce a good

  • diminishing marginal product

    the property whereby the marginal product of an input declines as the quantity of the input increases

  • diminishing returns

    the property whereby the benefit from an extra unit of an input declines as the quantity of the input increases

  • equilibrium

    a situation in which the market price has reached the level at which quantity supplied equals quantity demanded

  • labor-force participation rate

    the percentage of the adult population that is in the labor force

  • lump-sum tax

    a tax that is the same amount for every person

  • marginal change

    a small incremental adjustment to a plan of action

  • median voter theorem

    a mathematical result showing that if voters are choosing a point along a line and each voter wants the point closest to his most preferred point, then majority rule will pick the most preferred point of the median voter

  • monopoly

    a firm that is the sole seller of a product without close substitutes

  • price discrimination

    the business practice of selling the same good at different prices to different customers

  • rational expectations

    the theory that people optimally use all the information they have, including information about government policies, when forecasting the future

  • reserve requirements

    regulations on the minimum amount of reserves that banks must hold against deposits

  • total revenue (in a market)

    the amount paid by buyers and received by sellers of a good, computed as the price of the good times the quantity sold