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Chapter 1. Ten Principles of Economics II. How Markets Work Chapter 4. The Market Forces of Supply and Demand Chapter 5. Elasticity and Its Application Chapter 6. Supply, Demand, and Government Policies Midterm 1 -- TBA III. Markets and Welfare Chapter 7. Consumers, Producers, and the Efficiency of Markets IV. The Economics of the Public Sector ... Chapter 5. Principles of Microeconomics 2e Chapter 5. Table of contents. My highlights.Chapter 5 Chapter 5. IV. Consumer Choice and Demand . Key points: marginal and total utility diminishing marginal utility utility-maximizing conditions the law of demand consumer surplus Reading: Chapter 6 Chapter 6. V. Production and Cost in the Firm. Key points: explicit vs. implicit costs alternative measures of profit short run versus long run MICROECONOMICS BU 224. Seminar Two. Agenda. Course Issues and Questions Models Production Possibilities Curve Comparative Advantage Circular Flow Positive and Normative Economics Review of Questions from the Text Homework. Principles of Microeconomics ECON 10011 / 20011 ... All work on the homework, quizzes, project and examinations is to be the work of the ... Chapter 5 5. Consumer and ... Chapter 5. Principles of Microeconomics 2e Chapter 5. Table of contents. My highlights.