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Microeconomics Midterm 2: Study Guide and Key Concepts

Study Guide - Learn with Videos

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Price Ceilings, Price Floors, and Black Markets

Effects of Taxes on a Market

Economic Surplus and Efficiency

Market Equilibrium

Using the Supply and Demand Curves to Find Equilibrium

Revenue, Cost, and Profit

Marginal Cost

The Relationship Between Average Cost and Marginal Cost

Characteristics of Perfect Competition

Individual Supply Curve in the Short Run and Long Run