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Principles of Microeconomics: Final Exam Study Guide

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Long Run Entry and Exit Decision

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

Long Run Equilibrium

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    Long Run Equilibrium
    07:04

Consumer Surplus and Willingness to Pay

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

Producer Surplus and Willingness to Sell

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    Producer Surplus and Market Supply
    05:24
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    Producer Surplus
    02:55
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    Producer Surplus in a Small Setting
    11:38

Competitive Markets

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    Introduction to Supply and Demand
    07:03

Market Equilibrium

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    Big Daddy Shift Summary
    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

Effects of Taxes on a Market

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    Effects of Taxes
    09:45

Elasticity and Taxes

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    Elasticity and Taxes:Perfectly Elastic Demand and Perfectly Inelastic Demand
    02:58
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    Elasticity and Taxes
    07:03

Subsidies

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    Subsidies
    09:29

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

Externalities: Social Benefits and Social Costs

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

Public Solutions to Externalities

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    Public Solutions to Externalities:Quantity Limits
    04:07
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    Public Solutions to Externalities:Command-and-Control Policies and Corrective Pigovian Taxes and Subsidies
    16:25

Four Types of Goods and Two Characteristics

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

The Free Rider Problem and the Tragedy of the Commons

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    Tragedy of the Commons
    07:34
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    Free Rider Problem
    06:11

Characteristics of Monopoly

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

Monopoly Revenue

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    Monopoly Revenue
    03:37
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    Monopoly and Marginal Revenue
    06:43

Monopoly Profit on the Graph

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    Monopoly Profit on the Graph
    07:41

Monopoly Efficiency and Deadweight Loss

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    Monopoly Efficiency and Deadweight Loss
    12:19

Price Discrimination

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    Price Discrimination
    04:05
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    Perfect Price Discrimination
    06:11
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    Price Discrimination
    07:45

Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

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    Understanding the PPF
    06:23
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    PPF - Attainable and Efficient
    04:48

PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency

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    Allocative Efficiency with Marginal Analysis
    08:42
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    Increasing Marginal Opportunity Costs
    04:38

PPF - The Price of the Trade

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    The Price of the Trade
    03:47

Exporting and Importing

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    Low World Price:Import
    06:36
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    Autarky
    04:
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    High World Price:Export
    09:03

Sources of Comparative Advantage

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    Sources of Comparative Advantage
    06:08

Arguments Against International Trade

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    Arguments Against International Trade
    07:50

Tariffs on Imports

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    Tariffs on Imports
    14:35

One-Time Games and the Prisoner's Dilemma

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

Repeated Games

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    Repeated Games
    02:28