Prin of Microeconomics*S (ECON 222)

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• Credit Hours: Min: 3, Max: 3

Markets and equilibrium price formation. The theory of consumer demand, price elasticity of demand, productivity and the firm's costs of production. Market structure, price and output determination. Market structure, resource allocation, and economic efficiency. Resource demand, supply and pricing. The functional distribution of income. This course meets General Education requirements: Social Awareness, Social Foundation. Prerequisites ECON 221