Chapters: Production and Production Costs
1. Relating outputs to inputs: the production function
2. Production when only input is variable (SR production)
3. The law of diminishing marginal product (or returns) and the relationships between total product, marginal product, and average product
4. Short run cost curves (TFC, TVC, TC, AFC, AVC, ATC, and MC)
5. Changes in input prices and technology and their effects on short-run production costs
Chapter : Perfect Competition
1. The four market arrangements and the characteristics of each
2. Competitive market equilibrium and demand from the perspective of the representative firm
3. Derivation of total revenue, marginal revenue, and average revenue functions
4. Optimal behavior in the short-run: profit maximization and loss minimization
5. Derivation of the competitive firm's supply function/curve and the market supply function/curve
Chapter : Monopoly
1. Barriers to entry: Legal barriers, technological barriers, and ownership of key inputs
2. Demand from the perspective of the monopolist
3. Derivation of total revenue, marginal revenue, and average revenue functions
4. Optimal behavior in the short-run: profit maximization and loss minimization
5. Implications of monopoly market power