AP Microeconomics-Lecture Series Unit 3: Production and Cost

This course is the third in a series of six that together cover the complete Microeconomics curriculum outlined by the College Board for the AP exam. By dividing the curriculum into six mini-courses, students have the flexibility to either complete the full AP Microeconomics sequence or focus on specific units where they need additional support (if they are concurrently enrolled in a microeconomics course at their high school and require extra help).

The AP Microeconomics curriculum includes 6 units: 
UNIT 1: Basic Economic Concepts 
UNIT 2: Supply and Demand 
UNIT 3: Production, Cost, and the Perfect Competition Model 
UNIT 4: Imperfect Competition 
UNIT 5: Factor Markets 
UNIT 6: Market Failure and the Role of Government 

This course will focus on Unit 3-Production, Cost, and the Perfect Competition Model . This unit represents 22–25% AP Exam Weighting.  Throughout this course, students will engage with economic theory and develop the skills to create, interpret, and apply economic models and graphs effectively.

Unit3 will cover the following topics: 
3.1 The production function
3.2 Short run production costs
3.3 Long-run production costs
3.4 Types of profit 
3.5 Profit maximization  
3.6 Firms Decision 
3.7 Perfect competition

The learning approach combines a lecture in which the theoretical background of the topic is presented (lesson 1 of the week), followed by applications (lesson 2 of the week) with a focus on problem-solving (practical exercises, case studies, additional readings).
If the available time slots do not fit your schedule, feel free to request an alternative date or time