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AP Microeconomics
Unit 3
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AP Microeconomics Unit 3 Vocabulary
99 essential vocabulary terms and definitions for Unit 3 – Production, Cost, and the Perfect Competition Model
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Unit 3 – Production, Cost, and the Perfect Competition Model
Topics
3.1 The Production Function
3.2 Short-Run Production Costs
3.3 Long-Run Production Costs
3.4 Types of Profit
3.5 Profit Maximization
3.6 Firms' Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
3.7 Perfect Competition
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