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Find all of the following topics, explained in plain-English: Introduction: What is Economics? - Not a Perfect Model - Microeconomics vs. Macroeconomics 1. Maximizing Utility Decreasing Marginal Utility - Opportunity Costs 2. Evaluating Production Possibilities Production Possibilities Frontiers - Absolute and Comparative Advantage 3. Demand Determinants of Demand - Elasticity of Demand - Change in Demand vs. Change in Quantity Demanded 4. Supply Determinants of Supply - Elasticity of Supply - Change in Supply vs. Change in Quantity Supplied 5. Market Equilibrium How Market Equilibrium is Reached - The Effect of Changes in Supply and Demand 6. Government Intervention Price Ceilings and Price Floors - Taxes and Subsidies 7. Costs of Production Marginal Cost of Production - Fixed vs. Variable Costs - Short Run vs. Long Run - Sunk Costs - Economic Costs vs. Accounting Costs 8. Perfect Competition Firms Are Price Takers - Making Decisions at the Margin - Consumer and Producer Surplus 9. Monopoly Market Power - Deadweight Loss with a Monopoly - Monopolies and Government 10. Oligopoly Collusion - Cheating the Cartel - Government Intervention in Oligopolies 11. Monopolistic Competition Competing via Product Differentiation - Loss of Surplus with Monopolistic Competition Conclusion: The Insights and Limitations of Economics
