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Principles of Microeconomics: Midterm Study Guide (Chapters 1-6)

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Positive and Normative Analysis

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

The Basics of Demand

  • The Basics of Demand
    06:02

The Basics of Supply

  • The Basics of Supply
    02:43

Shifting Demand

  • Consumer Income: Normal Goods and Inferior Goods
    01:30
  • Consumer Preferences
    01:44
  • Number of Consumers
    02:15

Shifting Supply

  • Guided course
    Nature
    01:
  • Technology
    01:39
  • Shifting Supply
    01:56

Overview of Supply and Demand Shifts

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

Supply and Demand Together: Equilibrium, Shortage, and Surplus

  • Law of Supply and Demand
    02:43
  • Equilibrium
    02:41

Willingness to Pay and Consumer Surplus

  • Consumer Surplus and Market Demand
    06:03
  • Consumer Surplus
    02:15
  • Willingness to Pay and Consumer Surplus
    03:39

Price Elasticity of Demand on a Graph

  • Guided course
    Price Elasticity of Demand on a Graph
    11:34

Percentage Change and Price Elasticity of Demand

  • Interpreting Elasticity
    04:56
  • Introducing Price Elasticity of Demand
    03:33
  • Guided course
    Different Answers when Increasing or Decreasing Prices! (Part 1)
    04:34

Cross-Price Elasticity of Demand

  • Guided course
    Cross-Price Elasticity of Demand
    07:14

Income Elasticity of Demand

  • Guided course
    Income Elasticity of Demand
    10:57

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

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

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

The Relationship Between Average Cost and Marginal Cost

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

Marginal Cost

  • Guided course
    Marginal Cost
    10:48

Revenue, Cost, and Profit

  • Guided course
    Explicit and Implicit Cost
    05:51
  • Guided course
    Fixed Costs and Variable Costs; Short Run and Long Run
    07:54
  • Guided course
    Accounting Profit and Economic Profit
    01:59

Introduction to Supply and Demand

  • Perfect Competition
    03:23

Characteristics of Perfect Competition

  • Guided course
    Characteristics of Perfect Competition
    02:29
  • Guided course
    Market Demand and Individual Firm Demand
    03:57

Short Run Shutdown Decision

  • Guided course
    Short Run Shutdown Decision (continued)
    07:54
  • Guided course
    Short Run Shutdown Decision on the Graph
    07:05
  • Guided course
    Short Run Shutdown Decision
    03:28

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
  • Guided course
    Long Run Exit/Enter Decision on the Graph
    09:32

Long Run Equilibrium

  • Guided course
    Long Run Equilibrium
    07:04

Willingness to Sell and Producer Surplus

  • Willingness to Sell and Producer Surplus
    03:04
  • Producer Surplus and Market Supply
    04:03
  • Producer Surplus
    01:30

Individual Demand and Market Demand

  • Individual and Market Demand
    03:59

Individual Supply and Market Supply

  • Guided course
    Individual Supply and Market Supply
    06:04