Unit 3 Notes in Advance

Below are all the notes for our next unit. I highly suggest printing them out and bringing them to class before we take the notes. It will help you spend more of your in-class mental energy on learning the concepts rather than trying to furiously writing everything down. Additionally, there are many practice problems (multiple choice and FRQs) that we may not have time to do in class. 

All notes are listed in the order we will be discussing them

Costs of Production

1. Production and Diminishing Marginal Returns
2. Revenue and Profit
3. Short-Run Costs of Production
4. Long-Run Costs of Production

Perfect Competition 

1. Perfect Competition in the SHORT-RUN
2. Perfect Competition in the LONG-RUN
3. Perfect Competition and Efficiency