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Microeconomics – Key Graphs
• Production Possibility Frontiers (opportunity costs, international trade)
• Circular Flow Model (w/ three-factor circular flow) • Market Supply and Demand (consumer/producer surplus, market distortions,
elasticity, utility maximization) • Short Run Production Relationships • Long Run Cost Curves
• Monopoly Model and Natural Monopoly Model
• Monopolistic Competition
• Pay off matrix – Duopoly – Game Theory
• Resource Markets-Marginal Production Analysis
• Monopsony
• Least Cost Rule/Profit Maximizing Rule
• Externalities