Description

Find all of the following topics, explained in plain-English: Introduction: What is Economics? | Not a Perfect Model | Microeconomics vs. Macroeconomics 1. Maximizing Utility Decreasing Marginal Utility | Opportunity Costs 2. Evaluating Production Possibilities Production Possibilities Frontiers | Absolute and Comparative Advantage 3. Demand Determinants of Demand | Elasticity of Demand | Change in Demand vs. Change in Quantity Demanded 4. Supply Determinants of Supply | Elasticity of Supply | Change in Supply vs. Change in Quantity Supplied 5. Market Equilibrium How Market Equilibrium is Reached | The Effect of Changes in Supply and Demand 6. Government Intervention Price Ceilings and Price Floors | Taxes and Subsidies 7. Costs of Production Marginal Cost of Production | Fixed vs. Variable Costs | Short Run vs. Long Run | Sunk Costs | Economic Costs vs. Accounting Costs 8. Perfect Competition Firms Are Price Takers | Making Decisions at the Margin | Consumer and Producer Surplus 9. Monopoly Market Power | Deadweight Loss with a Monopoly | Monopolies and Government 10. Oligopoly Collusion | Cheating the Cartel | Government Intervention in Oligopolies 11. Monopolistic Competition Competing via Product Differentiation | Loss of Surplus with Monopolistic Competition Conclusion: The Insights and Limitations of Economics

EAN: 9780981454290

ISBN: 0981454291

Manufacturer: Simple Subjects, LLC

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