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Parkin 12th Edition - Microeconomics Tutoring Videos
ISBN: 978-0133872293
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Parkin (12th) Topics and Chapters that we cover
Ch. 1 - What is Economics?
Introduction to Economics
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Three Key Economic Ideas
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Productive and Allocative Efficiency; Equality
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Factors of Production
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Positive and Normative Statements
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Graphing Review
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Percentage and Decimal Review
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Percentage and Decimal Review
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Fractions Review
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Fractions Review
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Ch. 2 - The Economic Problem
Circular Flow Diagram
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Production Possibilities Frontier (PPF) - Introduction and Productive Efficiency
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PPF - Increasing Marginal Opportunity Costs and Allocative Efficiency
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PPF - Outward Shifts
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PPF - Comparative Advantage and Absolute Advantage
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PPF - Comparative Advantage and Trade
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Ch. 3 - Demand and Supply
Introduction to Supply and Demand
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The Basics of Demand
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Shifting Demand
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The Basics of Supply
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Shifting Supply
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Big Daddy Shift Summary
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Supply and Demand Together: Equilibrium, Shortage, and Surplus
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Supply and Demand Together: One-sided Shifts
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Supply and Demand Together: Both Shift
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Supply and Demand: Quantitative Analysis
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Ch. 4 - Elasticity
Percentage Change and Price Elasticity of Demand
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Elasticity and the Midpoint Method
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Price Elasticity of Demand on a Graph
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Determinants of Price Elasticity of Demand
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Total Revenue Test
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Total Revenue Along a Linear Demand Curve
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Income Elasticity of Demand
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Cross-Price Elasticity of Demand
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Price Elasticity of Supply
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Price Elasticity of Supply on a Graph
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Elasticity Summary
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Ch. 5 - Efficiency and Equity
Consumer Surplus and Willingness to Pay
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Producer Surplus and Willingness to Sell
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Economic Surplus and Efficiency
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Ch. 6 - Government Actions in Markets
Price Ceilings, Price Floors, and Black Markets
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Introducing Taxes and Tax Incidence
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Effects of Taxes on a Market
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Elasticity and Taxes
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Tax Equity
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Ch. 7 - Global Markets in Action
Exporting and Importing
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Tariffs on Imports
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Import Quotas and VERs
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Arguments Against International Trade
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Ch. 8 - Utility and Demand
Budget Constraint
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Consumer Optimum Consumption: Marginal Utility per Dollar Spent
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Ch. 9 - Possibilities, Preferences, and Choices
Budget Constraint
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Indifference Curves
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Indifference Curves for Perfect Substitutes and Perfect Complements
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Consumer Optimum Consumption: Budget Constraint and Indifference Curves
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Ch. 10 - Organizing Production
Revenue, Cost, and Profit
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Cost-Minimizing Combination of Labor and Capital
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Mergers and the Herfindahl-Hirschman Index (HHI)
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Four Firm Concentration Ratio
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Ch. 11 - Output and Costs
The Production Function and Diminishing Returns
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Marginal Cost
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The Relationship Between Average Cost and Marginal Cost
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Graphing Costs
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Average Total Cost: Short Run and Long Run
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Ch. 12 - Perfect Competition
Introduction to the Four Market Models
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Characteristics of Perfect Competition
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Revenue in Perfect Competition
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Perfect Competition Profit on the Graph
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Short Run Shutdown Decision
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Long Run Entry and Exit Decision
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Individual Supply Curve in the Short Run and Long Run
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Market Supply Curve in the Short Run and Long Run
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Long Run Equilibrium
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Perfect Competition and Efficiency
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Four Market Model Summary: Perfect Competition
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Ch. 13 - Monopoly
Characteristics of Monopoly
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Monopoly Revenue
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Monopoly Profit on the Graph
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Monopoly Efficiency and Deadweight Loss
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Price Discrimination
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Antitrust Laws and Government Regulation of Monopolies
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Four Market Model Summary: Monopoly
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Ch. 14 - Monopolistic Competition
Characteristics of Monopolistic Competition
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Revenue in Monopolistic Competition
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Monopolistic Competition Profit on the Graph
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Monopolistic Competition in the Long Run
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Efficiency in Monopolistic Competition
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Advertising
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Four Market Model Summary: Monopolistic Competition
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Ch. 15 - Oligopoly
Characteristics of Oligopoly
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One-Time Games and the Prisoner's Dilemma
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Game Theory and Oligopoly Profit
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Repeated Games
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Four Market Model Summary: Oligopoly
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Ch. 16 - Public Choice and Public Goods
Four Types of Goods and Two Characteristics
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The Free Rider Problem and the Tragedy of the Commons
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Public Goods: Demand Curve and Optimal Quantity
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Ch. 17 - Externalities and the Environment
Externalities: Social Benefits and Social Costs
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Public Solutions to Externalities
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Private Solutions to Externalities: The Coase Theorem
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Ch. 18 - Markets for Factors of Production
The Production Function and Marginal Revenue Product
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Demand for Labor in Perfect Competition
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Shifts in Labor Demand
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Supply of Labor in Perfect Competition
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Other Factors of Production: Land and Capital
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Unions
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Monopsony
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Bilateral Monopoly
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Ch. 19 - Economic Inequality
Differences in Wages
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Discrimination
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Income Inequality in the USA and Worldwide
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Poverty
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Polices to Reduce Poverty
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Lorenz Curve and Gini Coefficient
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Tax Equity
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Ch. 20 - Uncertainty and Information
Asymmetric Information: Adverse Selection and Moral Hazard
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Solutions to Informational Problems
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