AP®︎ Microeconomics Unit 4: Notes & Study Guide
Prepare for your quiz, test, or the AP exam with a comprehensive review on Unit 4 of AP Microeconomics – Imperfect Competition.
Unit 4: Imperfect Competition
This unit analyzes different market structures—perfect competition, monopolies, monopolistic competition, and oligopolies—and their impact on efficiency and pricing.
Begin with Topic 4.1: Introduction to Imperfect...To review Unit 4, go through each of the 5 topics below.
Everything you actually need to know for your Unit 4 test, pulled directly from the AP® Microeconomics curriculum.
Introduction to Imperfectly Competitive Markets
Introduction to Imperfectly Competitive Markets
- What Imperfectly Competitive Markets Are
- Price Makers and the Downward-Sloping Demand Curve
- Inefficiency and Deadweight Loss
Monopoly
Monopoly
- What a Monopoly Is
- The Monopoly Graph and Profit Maximization
- Surplus and Deadweight Loss
Price Discrimination
Price Discrimination
- What Price Discrimination Is
- Uniform Monopoly vs Perfect Price Discrimination
- Graphing and Calculating Surplus
Monopolistic Competition
Monopolistic Competition
- What Monopolistic Competition Is
- Short-Run Profit Maximization and Graphs
- Entry, Exit, and the Long Run
Oligopoly and Game Theory
Oligopoly and Game Theory
- What an Oligopoly Is
- Collusion, Cartels, and the Incentive to Cheat
- How Game Theory Models Oligopoly Behavior
Notes
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