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 Unit 5 Summary
IN THIS LESSON This unit shifts from goods to resources, exploring how firms hire labor and other inputs. You'll learn how wages are determined, how firms maximize profit in resource markets, and what happens when buyers of labor have market power. Download PDF Additional Resources
