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AP Microeconomics · Unit 3 · 22–25% of the exam

Production, Cost, and the Perfect Competition Model

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Step 1 · Summary

Start with the whole unit in one sitting, so each topic video has somewhere to land.

Video coming
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Step 2 · Topics

Watch each video first, then practice it separately. Practice is untimed and explains every answer.

  1. 3.1The Production FunctionVideo coming · 7 questionsWatchPractice
  2. 3.2Short-Run Production CostsVideo coming · 9 questionsWatchPractice
  3. 3.3Long-Run Production CostsVideo coming · 4 questionsWatchPractice
  4. 3.4Types of ProfitVideo coming · 9 questionsWatchPractice
  5. 3.5Profit MaximizationVideo coming · 11 questionsWatchPractice
  6. 3.6Firms' Short-Run Decisions to Produce or Shut DownVideo coming · 9 questionsWatchPractice
  7. 3.7Perfect CompetitionVideo coming · 11 questionsWatchPractice
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Step 3 · Exit test

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20 questions, 60s each, no feedback until the end. Pass at 80% correct with 70% inside target time. Two passes in a row and the unit is mastered.

Passes toward mastery0 of 2
Take the exit test
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Step 4 · Free response

Discussion

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A general thread for the unit, plus one thread per free-response question that unlocks once you have submitted your own answer. Post graphs as photos; instructors can moderate.