econmics (final exam )today

  

Course Content

· Basic Concepts such as Opportunity Cost, Marginal Cost, Sunk Cost

· Fallacies in Thinking

· Positive/Normative Economics, The subfields of Economics

· Production Possibilities Frontier

· Comparative Advantage, Absolute Advantage and Trade

· Consumer Choice and Utility Maximization

· The theory of Firm and Production Decisions

· Costs and Profit Maximization in the Short Run

· Costs and Profit Maximization in the Long Run

· Analysis of Perfect Competition

· Analysis of Monopoly