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AP Microeconomics

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Unit 1: Basic Economic Concepts

5 Lessons

1.1 Resource Allocation

1.2 Production Possibilities Curve and Advantages

1.3 Cost-Benefit Analysis

1.4 Marginal Analysis

Unit 2: Supply and Demand

6 Lessons

2.1 Supply and Demand

2.2 Elasticities

2.3 Market Equilibriums and Surpluses

2.4 Government Intervention

2.5 International Trade and Public Policy

Unit 3: Production, Cost, and the Perfect Competition Model

6 Lessons

3.1 The Production Function

3.2 Production Costs

3.4 Firms’ Decisions

3.5 Perfect Competition

Unit 4: Imperfect Competition

5 Lessons

4.1 Imperfect Competitive Markets

4.3 Monopolistic Competition

Unit 5: Factor Markets

4 Lessons

5.1 Factor Markets

5.2 Profit Maximizing Behavior and Changes in Factor Demand and Supply

5.3 Factor Market Structures

Unit 6: Market Failure and the Role of the Government

1 Lesson

AP Microeconomics

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Unit 3: Production, Cost, and the Perfect Competition Model

3.3 Profit

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IN THIS LESSON

Compare accounting and economic profit, and apply the marginal revenue = marginal cost rule to maximize firm profit.

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