CLEP Principles of Microeconomics Prep

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💰

$93

Exam Cost

⏱️

120 min

Time

🎓

3-6

Credits

✅

~50/80

Passing

What You'll Study

Unit 1: Supply and Demand

law of demandsupply shiftersequilibrium priceprice ceilings and floors

Unit 2: Elasticity and Consumer Choice

price elasticity of demandcross-price elasticityincome elasticitymarginal utility

Unit 3: Market Structures

perfect competitionmonopoly deadweight lossmonopolistic competitionoligopoly and game theory

Unit 4: Factor Markets

marginal revenue productlabor demand and supplywage determinationmonopsony

Unit 5: Market Failure and Government

externalities and Pigouvian taxespublic goods and free ridersasymmetric informationantitrust policy

Free Study Resources

- OpenStax Principles of Microeconomics 3e (openstax.org/books/principles-microeconomics-3e): CC BY 4.0 - Khan Academy Microeconomics (khanacademy.org/economics-finance-domain/microeconomics) - CORE Econ (core-econ.org)

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