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Microeconomics (Course Guide)

Principles of Microeconomics Course Materials

Textbook Readings

eTextbook Readings | Principles of Economics | OpenStax

NOTE: Be sure to review key terms, concepts, questions, and problems at the end of each chapter!

VIDEOS: Profit Maximization, Elasticity, and Monopolies

Maximizing Profit Under Competition

Maximizing Profit Under Monopoly

Maximizing Profit and the Average Cost Curve

Assess Your Knowledge

Do you understand how to...?

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  • calculate total revenue in competitive markets
  • calculate total revenue under monopolies
  • apply the concept of demand elasticity to marginal revenue analysis
  • calculate supply elasticity
  • distinguish between fixed costs and variable costs
  • distinguish between average, total, and marginal costs and revenues
  • identify short term profit maximizing production level
  • distinguish between long run and short run analyses
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