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Microeconomics Exam 2 Study Guide: Key Concepts and Applications

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Price Ceilings, Price Floors, and Black Markets

  • Guided course
    Price Ceilings
    07:07
  • Guided course
    Price Floors and Black Markets
    08:03
  • Guided course
    Price Floors
    02:18

Quantitative Analysis of Price Ceilings and Price Floors: Finding Points

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    Quantitative Analysis of Price Ceilings and Price Floors: Finding Points
    10:30

Quantitative Analysis of Price Ceilings and Price Floors: Finding Areas

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    Overview of Price Ceilings and Floors: Identifying Prices
    09:29
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    Overview of Price Ceilings and Floors: Finding Consumer and Producer Surplus
    15:24
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    Quantitative Analysis of Price Ceilings and Floors: Finding Areas
    11:40

Introducing Taxes and Tax Incidence

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    Tax Incidence
    03:21
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    Taxes and Tax Incidence
    13:27

Effects of Taxes on a Market

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    Effects of Taxes
    09:45

Externalities: Social Benefits and Social Costs

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    Externalities on the Graph
    14:23
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    Negative Externality and Positive Externality
    10:54

Public Solutions to Externalities

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    Public Solutions to Externalities:Quantity Limits
    04:07
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    Public Solutions to Externalities:Command-and-Control Policies and Corrective Pigovian Taxes and Subsidies
    16:25

Private Solutions to Externalities: The Coase Theorem

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    The Coase Theorem
    09:03

Four Types of Goods and Two Characteristics

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    The Four Types of Goods:Private Goods, Club Goods, Common Resources, and Public Goods
    11:08
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    Two Characteristics:Rivalry in Consumption and Excludability
    05:02

The Free Rider Problem and the Tragedy of the Commons

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    Tragedy of the Commons
    07:34
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    Free Rider Problem
    06:11

Public Goods: Demand Curve and Optimal Quantity

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    Demand Curve of a Public Good
    08:18
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    Demand Curve of a Private Good
    03:52

Four Types of Goods and Two Characteristics

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    The Four Types of Goods:Private Goods, Club Goods, Common Resources, and Public Goods
    11:08
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    Two Characteristics:Rivalry in Consumption and Excludability
    05:02

Exporting and Importing

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    Low World Price:Import
    06:36
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    Autarky
    04:
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    High World Price:Export
    09:03

Sources of Comparative Advantage

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    Sources of Comparative Advantage
    06:08

Tariffs on Imports

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    Tariffs on Imports
    14:35

Import Quotas and VERs

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    Import Quotas and VERs
    14:08
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    Import Quota
    09:44

Arguments Against International Trade

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    Arguments Against International Trade
    07:50

Subsidies

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    Subsidies
    09:29