Supply, Demand, and Equilibrium

15%-20% of AP Test

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Market Equilibrium

The basics of demand and supply, and what equilibrium is.

Determinants of supply and demand

Determinants that cause the demand and supply curve to shift.

Price and quantity controls

Price ceilings and price floors.


Coefficient of elasticity and the total revenue test.

Consumer surplus, producer surplus, and market efficiency

Consumer and producer surplus and sample questions.

Tax incidence and deadweight loss

Per unit tax, dead-weight loss, consumer and producer surplus, tax revenue, producer net price and consumer price.