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Microeconomics Midterm Exam #2 Study Guidance

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Revenue, Cost, and Profit

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

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

Average Total Cost: Short Run and Long Run

  • Guided course
    ATC in the Short Run and Long Run
    13:13

Short Run Shutdown Decision

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

Perfect Competition Profit on the Graph

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    Profit on the Graph in Perfect Competition
    13:25

Long Run Equilibrium

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    Long Run Equilibrium
    07:04

Perfect Competition and Efficiency

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    Efficiency in Perfect Competition
    06:46

Characteristics of Perfect Competition

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

Individual Supply Curve in the Short Run and Long Run

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    Individual Firm Supply Curve in the Long Run
    03:12
  • Guided course
    Individual Firm Supply Curve in the Short Run
    03:19

Revenue in Perfect Competition

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    Revenue in Perfect Competition
    06:20
  • Guided course
    Calculating Profit from a Table
    08:15

Long Run Entry and Exit Decision

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

Revenue in Monopolistic Competition

  • Guided course
    Monopolistic Competition Revenue
    03:28
  • Guided course
    Monopolistic Competition Marginal Revenue
    07:13

Monopolistic Competition Profit on the Graph

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    Monopolistic Competition Profit on the Graph
    07:07

Efficiency in Monopolistic Competition

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    Monopolistic Competition Productive Efficiency
    03:54
  • Guided course
    Monopolistic Competition Allocative Efficiency
    02:56

Four Market Model Summary: Monopolistic Competition

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    Four Market Model Summary: Monopolistic Competition
    03:30

Characteristics of Monopolistic Competition

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    Characteristics of Monopolistic Competition
    05:53
  • Guided course
    Monopolistic Competition Demand Curve
    04:25

Advertising

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    The Role of Advertising
    04:52

Monopolistic Competition in the Long Run

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    Monopolistic Competition in the Long Run
    09:47
  • Guided course
    How Companies Stay Profitable
    01:33

One-Time Games and the Prisoner's Dilemma

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    Game Theory, One-Time Games, and the Prisoner's Dilemma
    05:28
  • Guided course
    One-Time Games:Finding Dominant Strategies and Nash Equilibrium with the "Check and X"Method
    06:03
  • Guided course
    Dominant Strategy and the Nash Equilibrium
    06:29

Four Market Model Summary: Oligopoly

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    Four Market Model Summary: Oligopoly
    03:39

Characteristics of Oligopoly

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    Characteristics of Oligopoly
    04:45
  • Guided course
    Oligopoly Barriers to Entry
    05:16