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
General
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