The EOD – Macroeconomics Two product includes the Complete Theory Pack for Unit [4] – Production & Market Structures Analysis and which will help you systematically and comprehensively learn all key elements of the following chapters of this Unit.
Unit [4] – Production & Market Structures Analysis Chapters:
- Production and Cost Analysis
- Market Structures and Factor Market Analysis
*Printed study materials are available for purchase, please contact/WhatsApp 0777 277 729 for pre-orders.
Unit [4] - Production & Market Structures Analysis
- Production Analysis [Unit: 4.1]
Introduction to the theory of the firm, production, and identifying economic Short-run and Long-run in production
- Production Analysis [Unit: 4.2]
A brife on the trasisson form Economic Short-run to Long run production, Production Function, Law of Diminishing Returns, Technical Analysis of Curves, Reasons and explaining MP, AP and TPP behaviour in the short run, Law of Returns to Scale and sources
- Production Analysis [Unit: 4.3]
Concept and Application of the law of diminishing returns (short-run), and law returns to scale (long – run)
- Production Analysis [Unit: 4.4]
Unit [4] TYK Paper [1] Answer Discussion & Introduction to Cost (Production Cost) in Economics
- Production Analysis [Unit: 4.5]
Explicit and Implicit Cost Accounting Profits and Economic Profits Intro to Cost Concept Analysis (TC = TFC + TVC)
- Production Analysis [Unit: 4.6]
Cost Concept Analysis (ATC = AFC + AVC) and MC, In-depth Analysis of Cost Curves Special Notes Explanation
- Production Analysis [Unit: 4.7]
Explaining the shape of Short run Cost Curves (AVC,ATC and MC) Introducing Economies of Scale and Diseconomies of Scale Explaining the shape of Long run Cost Curves (LRATC) Further production cost related concepts
- Production Analysis [Unit: 4.8]
Comprehensive discussion of the Test Your Knowledge [TYK] Paper [2] – Production Cost Analysis
- Production Analysis [Unit: 4.9]
Intro to a Market (Industry), Market Structures, Revenue Concepts (TR, AR and MR) and Perfectly Competitive Markets
- Production Analysis [Unit: 4.10]
Comprehensive and comparative discussion on Price Taking and Price Making Behaviour, demand curves faced and the market demand curve of a perfectly competitive market. Note on Production Shutdown Decision of a perfectly competitive firm.
- Production Analysis [Unit: 4.11]
A perfectly competitive firm’s short run: concept of production shutdown point/price, supply curve (market supply curve). Profit Maximising Rule (Production Equilibrium): Total Approach of Profit Maximisation.
- Production Analysis [Unit: 4.12]
Marginal Approach of determining Profit Maximisation level of output, Short run and long run profit scenarios, concepts of Supernormal Profits, Subnormal Profits and Normal Profits. Fundamental techniques of constructing Profit or Production Equilibrium Diagrams of a perfectly competitive firm for each profit scenario.
- Production Analysis [Unit: 4.13]
Comprehensive Discussion on a Perfectly Competitive Firm’s Short-run and Long-run Production Equilibrium (Profit) Diagrams A Perfectly Competitive Market’s Profit Behaviour (Long-run) A Perfectly Competitive Firm’s Producer Surplus (Alternative Methods) A Perfectly Competitive Firm’s Long-run Equilibrium with Normal Profits and Economic Efficiency Limitations (Demerits/Drawbacks) of the Perfect Competition Market Structures
- Production Analysis [Unit: 4.14]
Related Concept Summary of Perfect Competition, Characteristics of Monopoly Markets, Special discussion on barriers to entry, Natural Monopolies and Drawbacks of Monopoly Markets.
- Production Analysis [Unit: 4.15]
Characteristics of Monopolistic Competition Markets, Practice of Product Differentiation, Characteristics of Oligopoly Markets, Principle of Kinked Demand Curve Pricing, Practice of Price Discrimination.
- Production Analysis [Unit: 4.16]
All about Factor Markets
- Production Analysis [Unit: 4.17]
TYK Paper [3] on Learning Key [3] and [4] & Comprehensive Answer Discussion
