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90+ Video Lessons - IB Lesson Specific Slides - IB Instructor’s Notes - IB Key Terms & Vocabulary - IB Exam Practice Questions - IB Student Discussions - Fully Updated

    1. Welcome to Market Power!

    2. The Nine Central Themes of IB Economics - A Reminder!

    1. Introduction to Costs, Revenue, and Profit Theory

    2. Key Terms and Concepts: Costs, Revenue, and Profit

    1. Lesson 1: Introduction to Costs

    2. Lesson 2: The Short-Run and The Long-Run

    3. Lesson 3: Total Product, Marginal Product, and Average Product

    4. Lesson 4: The Law of Diminishing Returns

    5. Lesson 5: Economic Costs (Implicit and Explicit)

    6. Lesson 6: Total Cost, Marginal Cost, and Average Cost

    7. Lesson 7: Short-Run Costs and Diagrams

    8. Study Break!

    9. Lesson 8: Long-Run Costs

    10. Closing Remarks: Costs

    11. Review Questions: Costs

    12. Key Terms and Concepts: Costs

    13. IB Exam Practice Questions: Costs

    1. Lesson 1: Introduction to Revenue

    2. Lesson 2: Total Revenue, Marginal Revenue, and Average Revenue

    3. Lesson 3: Revenue Curves in Perfect Competition ("Price Takers" Market Structure)

    4. Lesson 4: Revenue Curves in Monopoly, Monopolistic Competition, and Oligopoly ("Price Makers" Market Structures)

    5. Closing Remarks: Revenue

    6. Review Questions: Revenue

    7. Key Terms and Concepts: Revenue

    8. IB Exam Practice Questions: Revenue

    1. Lesson 1: Introduction to Profit

    2. Lesson 2: Economic Profit, Abnormal Profit, Normal Profit, and Negative Profit

    3. Lesson 3: The Shut-Down Price

    4. Lesson 4: The Shut-Down Price on a Diagram

    5. Lesson 5: The Break-Even Price

    6. Lesson 6: The Profit-Maximizing Level of Output

    7. Lesson 7: Showing Profit in Perfect Competition ("Price-Takers" Market Structure)

    8. Study Break!

    9. Lesson 8: Showing Profit in Monopoly, Monopolistic Competition, and Oligopoly ("Price-Makers" Market Structures)

    10. Lesson 9: Other Motives Besides Profit Maximization

    11. Closing Remarks: Profit

    12. Review Questions: Profit

    13. Key Terms and Concepts: Profit

    14. IB Exam Practice Questions: Profit

    1. Lesson 1: Introduction to Perfect Competition Market Structure

    2. Lesson 2: The Revenue Curves in Perfect Competition

    3. Lesson 3: The Profit Maximizing Level of Output in Perfect Competition

    4. Lesson 4: Abnormal Profit in Perfect Competition

    5. Lesson 5: Negative Profit (Loss) in Perfect Competition

    6. Lesson 6: Normal Profit in Perfect Competition

    7. Study Break!

    8. Lesson 7: Productive Efficiency in Perfect Competition

    9. Lesson 8: Allocative Efficiency in Perfect Competition

    10. Lesson 9: The Long-Run in Perfect Competition

    11. Lesson 10: Productive and Allocative Efficiency in the Long-Run

    12. Closing Remarks: Perfect Competition

    13. Review Questions: Perfect Competition

    14. Key Terms and Concepts: Perfect Competition

    15. IB Exam Practice Questions: Perfect Competition

Market Power

  • 94 lessons
  • 7.5 hours of video content
Watch Intro Video

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Showing Profit in Monopoly, Monopolistic Competition, and Oligopoly