
- Material Type:
- Full Course
- Provider:
- Rice University
- Provider Set:
- OpenStax College
- Date Added:
- 06/29/2017
By the end of this section, you will be able to:
Calculate and graph budget constraints
Explain opportunity sets and opportunity costs
Evaluate the law of diminishing marginal utility
Explain how marginal analysis and utility influence choices
By the end of this section, you will be able to:
Explain demand, quantity demanded, and the law of demand
Identify a demand curve and a supply curve
Explain supply, quantity supplied, and the law of supply
Explain equilibrium, equilibrium price, and equilibrium quantity
By the end of this section, you will be able to:
Identify factors that affect demand
Graph demand curves and demand shifts
Identify factors that affect supply
Graph supply curves and supply shifts