Unit 2 of AP Microeconomics is all about markets. Markets are structures containing buyers (or consumers) and sellers (or producers). This unit will use supply and demand to analyze how markets act and react to different situations.
AP Micro unit 4 is all about imperfect competition. Unlike perfect competition in unit 3, these market structures feature new ways of modeling production and costs.
In this unit, you'll apply the supply and demand concepts you learned in unit 2 to individual firms to uncover production and cost curves. Then, you'll build on top of this to derive perfect competition.
Welcome to AP Micro! This first unit will cover the big questions of what economics is and what economists do. You'll learn how to think like an economist and how to think economically.
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