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This video discusses from short-run to long-run when there is perfect competition.
Cost of living differs from country to country. One way to see this is in the cost of basic food staples. This video by... see more
This is an online microeconomics text that covers topics such as The Principles of Equilibrium Analysis, Consumer Theory... see more
Intermediate Microeconomics is a comprehensive microeconomic theory text that uses real world policy questions to... see more
This book is based on the idea that there is a particular framework used by economists to interpret observed reality.... see more
This open resource question bank provides problem sets for students of Intermediate Microeconomics. Questions are also... see more
Markets are thought to be the most efficient system for allocating society's scarce resources. However, what if markets... see more
Many students come into economics not really knowing what they will learn. Some students think issues like taxes and the... see more
This lesson will introduce some of the characteristics of monopolies and use a demand schedule to derive the demand and... see more
Demand for a factor of production by a firm reflects the same inverse relationship with the factor's price as demand for... see more
This lesson distinguishes between a firm's short-run average total cost and its long-run average total cost, and explains... see more
What does it mean for a market to be in "equilibrium"? This lesson puts demand and supply (introduced in previous... see more
GDP is generally understood to represent the health of a nation's economy, and most people realize that if GDP is... see more
The California State University and MERLOT have partnered to showcase how and why faculty have adopted Open Educational... see more
This lesson supports the Market Failure and the Role of Government section of the Advanced Placement Microeconomics... see more
Marginal Revolution University (aka., MR University), provides you with several free Massive Open Online Courses (MOOCs)... see more
In this first lesson on elasticities we'll learn the definition, formula and interpretations of the price elasticity of... see more
In this first lesson on elasticities, we'll learn the definition, formula and interpretations of the price elasticity of... see more
The California State University and MERLOT have partnered to showcase how and why faculty have adopted Open Educational... see more
The California State University and MERLOT have partnered to showcase how and why faculty have adopted Open Educational... see more
The California State University and MERLOT have partnered to showcase how and why faculty have adopted Open Educational... see more
This introductory undergraduate course covers the fundamentals of microeconomics. Topics include supply and demand,... see more
This book is an adaptation of Principles of Microeconomics originally published by OpenStax. This adapted version has... see more
The following question bank is written by Steven Stong. These questions have been using in a Principles of Microeconomics... see more