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AP Microeconomics

AP Microeconomics

Original price was: $99.00.Current price is: $49.00.

AP Microeconomics zooms in on how households and firms make choices, how prices and quantities are set, and where markets succeed—or fail. You’ll read supply–demand like a second language, optimize with marginal thinking, dissect cost curves and market power, and fix externalities with smart policy.

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Description

Units

By AP Micro Units

  • Unit 1 – Basic Economic Concepts: scarcity, opportunity cost & PPC, marginal analysis (MB vs. MC), factors of production, human capital, utility & diminishing marginal utility, comparative advantage & gains from trade, public goods/free riders, externalities – 30 Qs.
  • Unit 2 – Supply & Demand: demand & supply shifters, complements/substitutes, ceilings/floors (shortages/surpluses), taxes & subsidies, consumer/producer surplus, deadweight loss, elasticity (price, income, cross) and revenue implications – 30 Qs.
  • Unit 3 – Production, Cost, & Perfect Competition: production function & diminishing returns, fixed vs. variable costs, MC/ATC/AVC relationships, economies/diseconomies of scale, profit vs. normal profit, price-taking firms, MR=MC rule, shutdown condition, long-run zero economic profit & efficiency (P=MC) – 30 Qs.
  • Unit 4 – Imperfect Competition: monopoly behavior (MR<P, DWL), natural monopoly, price discrimination (degrees), monopolistic competition (differentiation, excess capacity), oligopoly, game theory & prisoner’s dilemma, cartels & collusion, Lerner index, antitrust and regulation – 30 Qs.
  • Unit 5 – Factor Markets & Market Failure: derived demand for inputs, MRP & hiring rule (hire to MRP=wage), monopsony & minimum wage effects, externalities (MSC/MSB) with Pigovian taxes/subsidies & Coase bargaining, public/common resources, Lorenz curve & Gini coefficient, policy trade-offs – 30 Qs.

Graph & skill focus

  • Core diagrams: supply–demand (tax/subsidy/DWL), elasticity, firm cost curves (MC, ATC, AVC), perfect competition vs. monopoly panels, price discrimination & revenue, monopolistic competition (LR), oligopoly/game payoffs, labor market (DL, SL) & monopsony, externalities (MSC/MSB), Lorenz curve.
  • Moves you practice: identify shifters, do comparative statics, compute elasticity/revenue changes, find profit-max output/price, mark DWL & surplus changes, and justify policy fixes with diagrams + marginal reasoning.

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