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The market force of supply and demand
Demand
The Demand Curve: The Relationship between price + quantity demanded
Market demand vs individual demand
Shift in the Demand curve
Supply + demand together
Equilibrium
3 steps to analyzing changes in equilibrium
Market and Competition
Defi
Supply
The supply curve: The relationship between price and quantity supplied
Market supply vs individual supply
Shifts in the supply curve
Interdependence and the gains from trade
A parable for the modern economy
Production Possibilities
Specialization and trade
Comparative Advantage
Absolute Advantage
Opportunity Cost
and Comparative Advantage
Comparative Advantage and Trade
The price of the Trade
Application of C.Advantage
Elasticity and its application
The elasticity of demand
The price elasticity of demand and its determinants
Computing the price elasticity of demand
The midpoint method: a better way to calculate percentage changes and elasticities
The variety of demand curves
Total revenue and the price elasticity of demand
Elasticity and total revenue along a linear demand curve
Other demand elasticities
The elasticity of supply
The price elasticity of supply and its determinants
Computing the price elasticity of supply
The variety of supply curves
Three application of supply, demand, and elasticity
Can good news for farming be bad news for farmers
Why did OPEC fall to keep the price of oil high
Does drug interdiction increase or decrease drug-related crime
Consumers, producers, and the efficiency of markets
Consumer Surplus
Willingness Surplus
Using the Demand Curve to Measure Consumer
Surplus
How a Lower Price Raises Consumer Surplus
What Does Consumer Surplus Measure?
Producer Surplus
Cost and the Willingness to Sell
Using the supply curve to measure producer surplus
How a higher price raises consumer surplus
Market Efficiency
The benevolent social planner
Evaluating the Market Equilibrium
Supply, Demand and government policies
Controls on price
How price ceiling affect market outcomes
How price floors affect market outcomes
Evaluating price controls
Taxes
How taxes on sellers affect market outcomes
How taxes on buyers affect market outcome
Elasticity and Tax Incidence