Chapter 1

Consumer Theory

Preference and utility functions

medium • 1 min read

Budget sets and utility maximization

medium • 2 min read

Demand functions and comparative statics

medium • 3 min read

Slutsky equation and the substitution effect

medium • 4 min read

Revealed preference theory

medium • 5 min read

Choices under uncertainty and expected utility

medium • 6 min read

Chapter 2

Production and Costs

Production functions and marginal productivity

medium • 1 min read

Isoquants and returns to scale

medium • 2 min read

Cost minimization and the cost function

medium • 3 min read

Short-run and long-run costs

medium • 4 min read

Profit maximization and supply functions

medium • 5 min read

Chapter 3

Perfect Competition

Market supply and short-run equilibrium

medium • 1 min read

Long-run equilibrium and zero profit condition

medium • 2 min read

Economic rent and producer surplus

medium • 3 min read

Competitive market applications: taxation and subsidies

medium • 4 min read

Welfare theorems in a partial equilibrium framework

medium • 5 min read

Chapter 4

Monopoly

Profit maximization under monopoly

medium • 1 min read

Markup pricing and price elasticity

medium • 2 min read

Welfare costs of monopoly

medium • 3 min read

Price discrimination: first, second, and third degree

medium • 4 min read

Natural monopoly and regulation

medium • 5 min read

Chapter 5

Monopolistic Competition

Product differentiation and demand

medium • 1 min read

Short-run and long-run equilibrium in monopolistic competition

medium • 2 min read

Excess capacity theorem

medium • 3 min read

Advertising and non-price competition

medium • 4 min read

Location models (Hotelling's linear city)

medium • 5 min read