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AP Microeconomics

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Units

Unit 1: Basic Economic Concepts

Scarcity, opportunity cost, and economic systems

Unit 2: Supply and Demand

Market equilibrium and price determination

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Unit 3: Production, Cost, and the Perfect Competition Model

Firm behavior in competitive markets

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Unit 4: Imperfect Competition

Monopoly, monopolistic competition, and oligopoly

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Unit 5: Factor Markets

Labor, capital, and resource markets

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Unit 6: Market Failure and the Role of Government

Externalities, public goods, and government intervention

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