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Microeconomics Study Guide: Preliminaries, Supply & Demand, and Consumer Behavior

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Microeconomics vs. Macroeconomics

  • Guided course
    Definition of Economics:Micro vs. Macro
    02:16

Positive and Normative Analysis

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    Identifying Statements
    02:48
  • Guided course
    Positive Statements vs. Normative Statements
    04:35

Competitive Markets

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    Introduction to Supply and Demand
    07:03

The Demand Curve

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

The Supply Curve

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

Market Equilibrium

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    Overview of Supply and Demand Shifts
    04:07

Price Ceilings, Price Floors, and Black Markets

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

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
  • Guided course
    Different Answers when Increasing or Decreasing Prices! (Part 2)
    05:31

Indifference Curves

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    Indifference Curves
    14:47
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    Properties of Indifference Curves
    04:23

Indifference Curves for Perfect Substitutes and Perfect Complements

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    Indifference Curves for Perfect Substitutes and Perfect Complements
    04:02

Budget Constraint

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    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