{"product_id":"micro-economics-book-3-a2-level-notes","title":"159 Micro Economics A2 Level Revision Notes Series Book 3 by Imran Latif","description":"\u003cp\u003e\u003c\/p\u003e\u003ch2\u003eMicro Economics As Level Revision Notes Series Book 3\u003c\/h2\u003e\u003cbr\u003e\u003cstrong\u003eTABLE OF CONTENTS\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eUNIT 1 THEORY OF CONSUMER BEHAVIOUR\u003c\/strong\u003e\u003cbr\u003eCARDINAL APPROACH\u003cbr\u003eLaw of Diminishing Marginal Utility:\u003cbr\u003eLaw of Equi-marginal Utility\u003cbr\u003eORDINAL APPROACH:\u003cbr\u003eBudget line\u003cbr\u003eIndifference Curves\u003cbr\u003eConsumer Equilibrium through the Ordinal Approach:\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 2 PRODUCTION AND COST\u003c\/strong\u003e\u003cbr\u003eTHE LAW OF DIMINISHING RETURNS (LAW OF VARIABLE PROPORTIONS):\u003cbr\u003eLEAST-COST INPUTS COMBINATION IN THE LONG RUN:\u003cbr\u003eISOCOST AND ISOQUANT APPROACH:\u003cbr\u003eSCALE OF PRODUCTION AND RETURNS TO SCALE:\u003cbr\u003eSHORT-RUN COSTS:\u003cbr\u003eRELATIONSHIP BETWEEN SHORT-RUN COSTS \u0026amp; LAW OF DIMINISHING RETURNS\u003cbr\u003eECONOMIES AND DISECONOMIES OF SCALE:\u003cbr\u003eSMALL FIRMS:\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 3 RULES OF FIRM'S BEHAVIOUR\u003c\/strong\u003e\u003cbr\u003e1 ECONOMIC THEORY OF PROFIT MAXIMIZATION\u003cbr\u003e2 BUSINESS CONTINUITY RULES\u003cbr\u003e3 TYPES OF PROFITS\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 4 PERFECT COMPETITION\u003c\/strong\u003e\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN SHORT RUN\u003cbr\u003eSHORT-RUN PRICE AND OUTPUT DETERMINATION:\u003cbr\u003eTypes and Determination of Profit\u003cbr\u003eThe Shutdown case of a perfectly competitive firm\u003cbr\u003eDerivation of the supply curve of a perfectly competitive industry in the short run\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN LONG RUN\u003cbr\u003eIS PERFECT COMPETITION A REALISTIC MODEL?\u003cbr\u003e\u003cstrong\u003eUNIT 5 MONOPOLY\u003c\/strong\u003e\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN SHORT RUN\u003cbr\u003eTypes of profits:(Micro Economics As Level book 3)\u003cbr\u003eTypes of losses\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN LONG RUN\u003cbr\u003eBARRIERS TO ENTRY\u003cbr\u003e\u003cstrong\u003eUNIT 6 MONOPOLISTIC COMPETITION\u003c\/strong\u003e\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN SHORT RUN\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN LONG RUN\u003cbr\u003e\u003cstrong\u003eUNIT 7 OLIGOPOLY\u003c\/strong\u003e\u003cbr\u003ePRICE AND OUTPUT DETERMINATION IN OLIGOPOLY\u003cbr\u003eKinked Demand Curve\u003cbr\u003ePrice Leadership\u003cbr\u003eCartel:\u003cbr\u003eGame Theory\u003cbr\u003eMERGER AND INTEGRATION (MCQS ONLY)\u003cbr\u003e\u003cstrong\u003eUNIT 8 COMPARISON OF MARKET STRUCTURES\u003c\/strong\u003e\u003cbr\u003e\u003cstrong\u003eUNIT 9 OBJECTIVES, DISCRIMINATION,\u0026amp; CONTESTABILITY\u003c\/strong\u003e\u003cbr\u003eOBJECTIVES OF FIRMS\u003cbr\u003ePRICE DISCRIMINATION\u003cbr\u003eCONTESTABLE MARKETS\u003cbr\u003eTHEORY OF EXCESS CAPACITY\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 10 ECONOMIC EFFICIENCY AND MARKET FAILURE\u003c\/strong\u003e\u003cbr\u003ePRODUCTIVE EFFICIENCY (PE)\u003cbr\u003eALLOCATIVE EFFICIENCY (AE)\u003cbr\u003eMARKET FAILURE:\u003cbr\u003e1-allocation of resources:\u003cbr\u003e2-allocation of resources:\u003cbr\u003e3 Markets of Public Goods:\u003cbr\u003e4 knowledge\u003cbr\u003e5 immobility\u003cbr\u003e6 termism\n\u003cp\u003e(\u003ca href=\"https:\/\/readnwrite.org\/product\/micro-economics-book-1-as-level-notes\/\"\u003e\u003cstrong\u003eMicro Economics As Level book\u003c\/strong\u003e\u003c\/a\u003e 3)\u003cbr\u003eGOVERNMENT MICROECONOMIC OBJECTIVES:\u003cbr\u003ePOLICIES TO CORRECT MARKET FAILURE OF NEGATIVE EXTERNALITIES AND DEMERIT GOODS\u003cbr\u003e1 Taxes\u003cbr\u003e2 and Regulation\u003cbr\u003e3 bodies\u003cbr\u003e4 in property rights\u003cbr\u003e5 of Information\u003cbr\u003e6 Permits\u003cbr\u003ePOLICIES TO CORRECT MARKET FAILURE OF POSITIVE EXTERNALITIES AND MERIT GOODS\u003cbr\u003e1\u003cbr\u003e2 and Regulation\u003cbr\u003e3 of Information\u003cbr\u003e4 Direct Provision of Goods and Services\u003cbr\u003ePOLICIES TO CORRECT MARKET FAILURE OF PUBLIC GOODS\u003cbr\u003ePOLICIES TO CORRECT THE MARKET FAILURE OF IMPERFECT MARKETS\u003cbr\u003eCOST-BENEFIT ANALYSIS (CBA):\u003cbr\u003eARE MONOPOLIES ALWAYS BAD FOR CONSUMERS?\u003cbr\u003e\u003ca href=\"https:\/\/readnwrite.org\/product\/business-a-level-paper-3-topical-past-paper\/\"\u003e\u003cstrong\u003ePAST PAPERS\u003c\/strong\u003e\u003c\/a\u003e QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 11 LABOUR MARKET\u003c\/strong\u003e\u003cbr\u003eTHE SUPPLY CURVE\u003cbr\u003e1 Curve for an Individual Worker\u003cbr\u003e2 Market Supply Curve for Labour\u003cbr\u003e3 of Labour for a Perfectly Competitive Firm:\u003cbr\u003e4 of Labour in a Monopsony\u003cbr\u003e5 of labour with a Trade Union:\u003cbr\u003eDEMAND FOR LABOUR OR MARGINAL REVENUE PRODUCT (MRP) THEORY:\u003cbr\u003eWAGE DETERMINATION IN PERFECT MARKET\u003cbr\u003eMONOPSONY\u003cbr\u003eTRADE UNION\u003cbr\u003eWAGE DIFFERENTIALS\u003cbr\u003eTRANSFER EARNINGS\u0026amp; ECONOMIC RENT\u003cbr\u003ePAST PAPER QUESTIONS\u003cbr\u003e\u003cstrong\u003eUNIT 12 INEQUALITY AND POLICIES TO REDISTRIBUTE INCOME\u003c\/strong\u003e\u003cbr\u003eMEASURING INEQUALITY\u003cbr\u003e1 curve\u003cbr\u003e2 coefficient\u003cbr\u003e3 curve\u003cbr\u003e\u003cstrong\u003eGOVERNMENT POLICIES TO REDISTRIBUTE INCOME AND WEALTH\u003c\/strong\u003e\u003cbr\u003e1 benefits (transfer payments)\u003cbr\u003e2 the tax system\u003cbr\u003e3 policies\u003c\/p\u003e","brand":"Read \u0026 Write","offers":[{"title":"Default Title","offer_id":47408477241589,"sku":"SKU-17","price":870.0,"currency_code":"PKR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0780\/4233\/3429\/files\/159_0cd4b5a1-c72c-40bb-9cb5-d5c3102fc64b.jpg?v=1772871748","url":"https:\/\/readnwrite.org\/products\/micro-economics-book-3-a2-level-notes","provider":"Read and Write Publications","version":"1.0","type":"link"}