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Microeconomics and Business Economics (A-Level)
Notes from AQA's Unit 3 - Business Economics and the Distribution of Income Syllabus: - The National and International Economy - Short-run and Long-run Production and Cost Theory - Revenue Theory - Perfect Competition and Monopolies (Profit Maximisation, Normal and Abnormal Profits, short-run and long-run equilibrium) - Evaluation of Perfect Competition and Monopolies (By Economic Efficiency and Economic Welfare) - Oligopolies (Imperfect Competition; Game Theory and Kinked Demand Theory; Pricing in Oligopolies; Price Discrimination; Barriers to Entry) - How Firms Grow - Industrial Policy - Market Failure (Public and Private Goods; Externalities; Demerit and Merit Goods) - Government Failure and Cost-Benefit Analysis - Labour Markets - Poverty and the Distribution of Income and Wealth
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