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Microeconomics Study Guide: Production, Costs, Market Structures, and Market Power

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The Production Function and Diminishing Returns

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

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 Supply Curve

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

The Demand Curve

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

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

Shifts in the Demand Curve

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    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

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
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    Results of Both Shifting
    06:34
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    Demand Shifts
    06:18

Supply and Demand: Quantitative Analysis

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    Finding Equilibrium Using Algebra
    05:11
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    Isolating Variables in the Demand Equation
    03:57
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    Finding Equilibrium with Equations and a Graph
    07:22

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

Perfect Competition Profit on the Graph

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    Profit on the Graph in Perfect Competition
    13:25