Progress AP Microeconomics Complete & Continue Next Lesson Learn More 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 1 Summary 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 2 Summary Unit 3: Production, Cost, and the Perfect Competition Model 6 Lessons 3.1 The Production Function 3.2 Production Costs 3.3 Profit 3.4 Firms’ Decisions 3.5 Perfect Competition Unit 3 Summary Unit 4: Imperfect Competition 5 Lessons 4.1 Imperfect Competitive Markets 4.2 Monopolies 4.3 Monopolistic Competition 4.4 Oligopoly Unit 4 Summary 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 5 Summary Unit 6: Market Failure and the Role of the Government 1 Lesson Unit 6 Summary AP Microeconomics Complete & Continue Next Lesson Learn More Unit 5: Factor Markets 5.3 Factor Market Structures
IN THIS LESSON Explore markets with a single buyer of labor and how they set wages below competitive levels, reducing employment. Download PDF Additional Resources
