Unit 4 Product Markets (Micro)
Perfect Competition overview video lesson featuring everything you need to know about perfectly competitive product markets and firms in four minutes. Be sure to take notes and pause when necessary.
Top 5 concepts in this video:
#1. Perfect competition overview
#2. Short-run economic profit
#3. Short-run economic loss
#4. Short-run shut down position
#5. Long-run equilibrium
NB9. Perfect Competition - Short-Run Economic Profit (Micro)
NB9. Perfect Competition - Short-Run Economic Loss (Micro)
Monopoly overview video lesson featuring everything you need to know about monopolies in 5 minutes. Take good notes and pause often because I speak at ludicrous speed in this one.
Top 8 concepts featured in the video below:
#1. Monopoly overview
#2. Economic profits
#3. Economic losses
#4. Inefficiencies of monopolies & deadweight loss
#5. Socially-optimal regulation
#6. Fair-return regulation
#7. Total revenue maximization & elasticity
#8. Perfect price discrimination (1st degree)
NB9. Monopoly - Elasticity of Demand & Marginal Revenue (Micro)
NB9. Monopoly - Economic Profit (Micro)
NB9. Monopoly - Economic Loss (Micro)
NB9. Monopoly & Deadweight Loss (Micro)
NB9. Monopoly & Consumer Surplus (Micro)
NB9. Monopolistic Competition - Short-Run Economic Profit (Micro)
NB9. Monopolistic Competition - Short-Run Economic Loss (Micro)
NB9. Monopolistic Competition - Long-Run Equilibrium & Excess Capacity (Micro)
NB9. Per-Unit Taxes vs. Lump-Sum Taxes (Micro)
Oligopoly overview video lesson featuring the main ideas you need to know about oligopolies in 3 minutes. Take good notes and pause when necessary.
Top 5 concepts discussed in the video below:
#1. Oligopoly overview
#2. Reading a game theory matrix
#3. Finding a dominant strategy
#4. Prisoner's dilemma game
#5. Cartels