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An Introduction to Microeconomics | |
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The Scope of Microeconomic Theory | |
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The Nature and Role of Theory | |
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Positive Versus Normative Analysis | |
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Market Analysis and Real Versus Normal Prices | |
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Basic Assumptions about Market Participants | |
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Opportunity Cost | |
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Production Possibility Frontier | |
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Supply and Demand | |
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Demand and Supply Curves | |
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Determination of Equilibrium Price and Quantity | |
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Adjustment to Changes in Demand or Supply | |
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Government Intervention in Markets: Price Controls | |
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Elasticities | |
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The Mathematics Associated with Elasticities | |
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The Theory of Consumer Choice | |
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Consumer Preferences | |
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The Budget Constraint | |
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The Consumer's Choice | |
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Changes in Income and Consumption Choices | |
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Are People Selfish? | |
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The Utility Approach to Consumer Choice | |
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The Mathematics Behind Consumer Choice | |
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Individual and Market Demand | |
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Price Changes and Consumption Choices | |
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Income Substitution Effects of a Price Change | |
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Income and Substitution Effects: Inferior Goods | |
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From Individual to Market Demand | |
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Consumer Surplus | |
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Price Elasticity and the Price-Consumption Curve | |
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Network Effects | |
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The Basics of Demand Estimation | |
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Deriving the Consumer's Demand Curve Mathematically | |
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Using Consumer Choice Theory | |
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Excise Subsidies, Health Care, and Consumer Welfare | |
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Public Schools and the Voucher Proposal | |
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Paying for Garbage | |
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The Consumer's Choice to Save or Borrow | |
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Investor Choice | |
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Exchange, Efficiency, and Prices | |
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Two-Person Exchange | |
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Efficiency in the Distribution of Goods | |
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Competitive Equilibrium and Efficient Distribution | |
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Price and Nonprice Rationing and Efficiency | |
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Some of the Mathematics behind Efficiency in Exchange | |
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Production | |
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Relating Output to Inputs | |
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Production When Only One Input is Variable: The Short Run | |
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Production When All Inputs are Variable: The Long Run | |
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Returns to Scale | |
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Functional Forms and Empirical Estimation of Production Functions | |
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The Mathematics behind Production Theory | |
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The Cost of Production | |
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The Nature of Cost | |
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Short-Run Cost of Production | |
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Short-Run Cost Curves | |
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Long-Run Cost of Production | |
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Input Price Changes and Cost Curves | |
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Long-Run Cost Curves | |
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Learning by Doing | |
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Importance of Cost Curves to Market Structure | |
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Using Cost Curves: Controlling Pollution | |
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Economies of Scale | |
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Estimating Cost Functions | |
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The Mathematics behind Production Cost | |
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Profit Maximization in Perfectly Competitive Markets | |
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The Assumptions of Perfect Competition | |
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Profit Maximization | |
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The Demand Curve Facing the Competitive Firm | |
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Short-Run Profit Maximization | |
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The Perfectly Competitive Firm's Short-Run Supply Curve | |
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The Short-Run Industry Supply Curve | |
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Long-Run Competitive Equilibrium | |
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The Long-Run Industry Supply Curve | |
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When Does the Competitive Model Apply? | |
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Using the Competitive Model | |
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The Evaluation of Gains and Losses | |
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Excise Taxation | |
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Airline Regulation and Deregulation | |
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City Taxicab Markets | |
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Consumer and Producer Surplus, and the Net Gains from Trade | |
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Government Intervention in Markets: Quality Controls | |
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Monopoly | |
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The Monopolist's Demand and Marginal Revenue Curves | |