Module 1

There’s two categories of cost curves we need to familiarize ourselves with: Total cost curves (VC, FC, TC) Per-unit cost curves (MC, AVC, AFC, ATC) … Read More

Spring Break is right around the corner and your friends have sent an insane Airbnb down in Panama City Beach. You are way too ready … Read More

Question #1: Which of the price and quantity combinations in the accompanying graph represents the market of Nike Air Forces at competitive equilibrium? A. $70 … Read More

Before digging into comparative advantage, it’s important to first understand specialization, and how that determines what goods a society produces. Specialization explained The Isle of … Read More

Here at Crammer Nation, we’re big believers in explanation through example. That’s why we’ll be using entry into concerts at Study Street Bar & Grille … Read More

In the previous articles we learned about the two sides of the market: supply and demand. So what’s the point of  learning about price and … Read More

You are a consumer: you buy food, shoes, clothes, services, textbooks, coffee, ect. In microeconomics, we care a lot about what you buy and what … Read More

There are two sides to the market. We just discussed the demand side which is where consumers demand a certain amount of goods at different … Read More

Before we start, it is important to note: The Production Possibilities Frontier (PPF) is the same exact thing as the Production Possibilities Curve (PPC). (Depending … Read More

Opportunity cost is often an aspect of life overlooked, largely due to the fact that it involves the impact that foregone events have on our … Read More