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Microeconomics Study Guide: Consumer and Producer Theory, Costs, and Competitive Markets

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Marginal Analysis

  • Guided course
    Marginal Analysis
    09:36

Budget Constraint

  • Guided course
    Budget Constraint (Budget Line)
    08:41
  • Guided course
    Budget Constraint:Change in Price of a Good
    03:50
  • Guided course
    Budget Constraint:Change in Income
    03:44

Indifference Curves

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    Indifference Curves
    14:47
  • Guided course
    Properties of Indifference Curves
    04:23

Consumer Optimum Consumption: Budget Constraint and Indifference Curves

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    Consumer Optimum Consumption: Budget Constraint and Indifference Curves
    07:07

Consumer Optimum Consumption: Marginal Utility per Dollar Spent

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    Consumer Optimum Consumption: Marginal Utility per Dollar Spent
    09:38

Consumer Surplus and Willingness to Pay

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

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
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    Accounting Profit and Economic Profit
    01:59

The Production Function and Diminishing Returns

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    The Production Function and Diminishing Returns
    07:45
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    Calculating Fixed Cost, Variable Cost, and Average Total Cost
    05:09

Marginal Cost

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    Marginal Cost
    10:48

The Relationship Between Average Cost and Marginal Cost

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

Graphing Costs

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    Graphing Cost Curves
    10:54

Average Total Cost: Short Run and Long Run

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    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
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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

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

Market Supply Curve in the Short Run and Long Run

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    Market Supply Curve in the Long Run
    06:07
  • Guided course
    Market Supply Curve in the Short Run
    03:02

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
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    Market Demand and Individual Firm Demand
    03:57

Revenue in Perfect Competition

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

Perfect Competition Profit on the Graph

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    Profit on the Graph in Perfect Competition
    13:25