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The nature and functions of product markets
consumer choice :utility ,the law of diminishing marginal utility
utility maximizing conditions,application in consumer decision-making and explaining the law of demand
Incomes,prices and tastes
How to derive an individual demand curve
How individual demand curve and market curve are related
Income and substitution explains the shape of demand curve
4
production and costs
Short-run production function : AP MP
law of diminishing marginal returns
Link between productivity and cost
Relationship among short-run cost : TC
AC MC
Cost minimization
Long-run costs
Economies and diseconomies of scale ,constant returns to scale
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