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Core Microeconomics Study Notes: E201 Final Exam Topics

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Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency

PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency

Shifts in the Demand Curve

Movement Along a Demand Curve

Shifts in the Supply Curve

Movement Along a Supply Curve

Price Ceilings, Price Floors, and Black Markets

Percentage Change and Price Elasticity of Demand

Revenue, Cost, and Profit

Characteristics of Perfect Competition

Individual Supply Curve in the Short Run and Long Run

Characteristics of Monopoly

Monopoly Efficiency and Deadweight Loss

Demand for Labor in Perfect Competition

Externalities: Social Benefits and Social Costs

Sources of Comparative Advantage

Tariffs on Imports

Import Quotas and VERs