APM3: Production, Cost & the Perfect Competition Model

Production, Cost & the Perfect Competition Model

This unit represents 22-25% of the AP Microeconomics exam.

  • 3.1 The Production Function
  • 3.2 Short-Run Production Costs
  • 3.3 Long-Run Production Costs
  • 3.4 Types of Profit
  • 3.5 Profit Maximization
  • 3.6 Firms’ Short-Run Decisions to Produce and Long-Run Decisions to Enter or Exit a Market
  • 3.7 Perfect Competition
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