Prerequisite: Elementary Algebra Skills. Advisory:. Intermediate Algebra Skills. This course is an introduction to microeconomic analysis that focuses on choices of individual economic decision makers. Topics include scarcity and resource allocation, elasticity, market equilibrium in competitive and noncompetitive market structures, consumer behavior, production decisions, income distribution, market failure and effects of government intervention. This course includes a lab component, which provides additional practice and deeper learning and applications.
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