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Perfect Competition and the Invisible Hand: Efficiency, Equity, and Market Outcomes

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Competitive Markets

  • Guided course
    Introduction to Supply and Demand
    07:03

Market Equilibrium

  • Guided course
    Overview of Supply and Demand Shifts
    04:07

Economic Surplus and Efficiency

  • Guided course
    Deadweight Loss and Market Failure
    07:08
  • Guided course
    Economic Surplus
    11:40

Allocative Efficiency, Productive Efficiency, and Equality

  • Guided course
    Equality
    01:17
  • Guided course
    Efficiency and Productive Efficiency
    04:04
  • Guided course
    Allocative Efficiency
    02:23

Characteristics of Monopoly

  • Guided course
    Monopoly Barriers to Entry
    06:29
  • Guided course
    Characteristics of Monopoly
    02:48
  • Guided course
    Monopoly Demand Curve
    04:17

Externalities: Social Benefits and Social Costs

  • Guided course
    Externalities on the Graph
    14:23
  • Guided course
    Negative Externality and Positive Externality
    10:54

Four Types of Goods and Two Characteristics

  • Guided course
    The Four Types of Goods:Private Goods, Club Goods, Common Resources, and Public Goods
    11:08
  • Guided course
    Two Characteristics:Rivalry in Consumption and Excludability
    05:02