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Microeconomics Final Exam Study Guide: Core Concepts, Models, and Applications (Chapters 1-15)

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Scarcity and Choice

  • Guided course
    Defining Economic Terms:Scarcity, Trade-offs, and Opportunity Costs
    02:39

Interpreting Graphs, Correlation, Causation, and Omitted Variables

  • Guided course
    Interpreting Graphs (Part One)
    03:27
  • Guided course
    Interpreting Graphs (Part Two)
    03:02

Marginal Analysis

  • Guided course
    Marginal Analysis
    09:36

The Demand Curve

  • Guided course
    The Basics of Demand
    07:15
  • Guided course
    Individual Demand and Market Demand
    06:08

Shifts in the Demand Curve

  • Guided course
    Consumer Income:Normal Goods and Inferior Goods
    01:48
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    Substitute Goods
    04:10
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    Consumer Expectations
    02:18

Movement Along a Demand Curve

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    Shifting Demand - Warning!
    05:29

The Supply Curve

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    Individual Supply and Market Supply
    06:04
  • Guided course
    The Basics of Supply
    03:53

Shifts in the Supply Curve

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    Nature
    01:
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    Technology
    01:27
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    Substitutes in Production
    03:02

Movement Along a Supply Curve

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    Shifting Supply - Warning!
    03:08

Market Equilibrium

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    Overview of Supply and Demand Shifts
    04:07

Using the Supply and Demand Curves to Find Equilibrium

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    Equilibrium
    04:19
  • Guided course
    Results of Both Shifting
    06:34
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    Demand Shifts
    06:18

Percentage Change and Price Elasticity of Demand

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    Percentage Change and Price Elasticity of Demand
    09:14
  • Guided course
    Different Answers when Increasing or Decreasing Prices! (Part 1)
    04:34
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    Different Answers when Increasing or Decreasing Prices! (Part 2)
    05:31

Consumer Surplus and Willingness to Pay

  • Guided course
    Consumer Surplus in a Small Setting
    14:41
  • Guided course
    Consumer Surplus and Market Demand
    06:08
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    Consumer Surplus
    03:15

Producer Surplus and Willingness to Sell

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    Producer Surplus and Market Supply
    05:24
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    Producer Surplus
    02:55
  • Guided course
    Producer Surplus in a Small Setting
    11:38

Economic Surplus and Efficiency

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    Deadweight Loss and Market Failure
    07:08
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    Economic Surplus
    11:40

Revenue, Cost, and Profit

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    Explicit and Implicit Cost
    05:51
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    Fixed Costs and Variable Costs; Short Run and Long Run
    07:54
  • Guided course
    Accounting Profit and Economic Profit
    01:59

Marginal Cost

  • Guided course
    Marginal Cost
    10:48

The Relationship Between Average Cost and Marginal Cost

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    Average Cost and Marginal Cost
    06:38
  • Guided course
    Patterns of MC, AFC, AVC, and ATC curves
    08:56

Characteristics of Perfect Competition

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    Characteristics of Perfect Competition
    02:29
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    Market Demand and Individual Firm Demand
    03:57

Short Run Shutdown Decision

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    Short Run Shutdown Decision (continued)
    07:54
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    Short Run Shutdown Decision on the Graph
    07:05
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    Short Run Shutdown Decision
    03:28

Long Run Entry and Exit Decision

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    Long Run Exit/Enter Decision (continued)
    06:04
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    Long Run Exit/Enter Decision
    02:39
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    Long Run Exit/Enter Decision on the Graph
    09:32

Long Run Equilibrium

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    Long Run Equilibrium
    07:04

Characteristics of Monopoly

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    Monopoly Barriers to Entry
    06:29
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    Characteristics of Monopoly
    02:48
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    Monopoly Demand Curve
    04:17

Monopoly Revenue

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    Monopoly Revenue
    03:37
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    Monopoly and Marginal Revenue
    06:43

Monopoly Efficiency and Deadweight Loss

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    Monopoly Efficiency and Deadweight Loss
    12:19

Characteristics of Monopolistic Competition

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    Characteristics of Monopolistic Competition
    05:53
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    Monopolistic Competition Demand Curve
    04:25

Characteristics of Oligopoly

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    Characteristics of Oligopoly
    04:45
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    Oligopoly Barriers to Entry
    05:16

Game Theory and Oligopoly Profit

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    Oligopoly Profit
    06:36
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    Oligopoly Profit
    10:08

Externalities: Social Benefits and Social Costs

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

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

Demand for Labor in Perfect Competition

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    Demand for Labor in Perfect Competition
    04:33

Income Equality and Efficiency

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    Income Equality and Efficiency
    06:41