Question: Using demand and supply graphs to determine equilibrium price and quantity, or surplus and shortages Economic vs Accounting profit Profit equation and Break-even price

Using demand and supply graphs to determine equilibrium price and quantity, or surplus and shortages Economic vs Accounting profit Profit equation and Break-even price analysis Calculate costs (MC, AC, VC, TC... from a table or problem) Extent decisions - produce up to where MR = MC Elasticity of demand - basic definition of "inelastic" or "elastic", when it changes, how should you change your price? (omit income elasticity, price elasticity of supply, or cross-price elasticity) Optimal mark-up rule Market making problem

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