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- Scarcity
- Resource allocation and economic systems
- The Production Possibilities Curve
- Comparative advantage and gains from trade
- Cost-benefit analysis
- Marginal analysis and consumer choice
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- Demand
- Supply
- Elasticity
- Market equilibrium, disequilibrium, and changes in equilibrium
- The effects of government intervention in markets
- International trade and public policy
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- The production function
- Short- and long-run production costs
- Types of profit
- Profit maximization
- Perfect competition
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- Monopoly
- Price discrimination
- Monopolistic competition
- Oligopoly and game theory
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- Introduction to factor markets
- Changes in factor demand and factor supply
- Profit-maximizing behavior in perfectly competitive factor markets
- Monopsonistic markets
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- Socially efficient and inefficient market outcomes
- Externalities
- Public and private goods
- The effects of government intervention in different market structures
- Income and wealth inequality
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