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Hand-drawn externalities comic showing a ceramics sale benefiting a factory and buyer while smoke harms a neighbor, with an economist considering the wider social cost.

Factor Markets and Externalities: Private vs. Social Costs

Compare private and social costs, marginal revenue product and public goods. Work through original examples and three interactive questions.

Hand-drawn production comic showing a bicycle workshop manager considering another unit of output while mechanics assemble bikes, with the marginal revenue equals marginal cost rule in a notebook.

Marginal Revenue and Marginal Cost: Output, Price and Profit

Use marginal revenue and marginal cost to choose output, then calculate price, profit and shutdown. Try three original interactive questions.

Hand-drawn market coordination comic comparing a queue at an almost empty produce stall, a balanced exchange, and unsold tomatoes, illustrating shortages, equilibrium, and surpluses.

Market Equilibrium: Price Signals, Shortages and Surpluses

Hand-drawn opportunity cost comic showing a student choosing study time while imagining a paid cafe shift and helping a friend move, illustrating alternatives forgone and the next decision.

Opportunity Cost and Marginal Analysis: Make the Next Choice

Hand-drawn firm and market comic contrasting a flower market supply and demand diagram with a magnified individual florist facing a horizontal price and marginal revenue line.

Firm vs. Market Curves: Demand, Supply and Competitive Price

Hand-drawn short run and long run comic contrasting a restaurant working within a fixed kitchen with its owner and architect planning adjustable space and equipment.

Short Run vs. Long Run: Shutdown, Exit and Fixed Costs

Hand-drawn revenue and profit comic showing a furniture sale, costs and remaining profit, a public revenue transfer, and a separate unrealized trade to distinguish transfers from deadweight loss.

Revenue vs. Profit: Transfers, Surplus and Deadweight Loss

Hand-drawn marginal and average comic using honey production to contrast a total collection, equal per-worker portions, and one highlighted additional jar.

Marginal and Average Values: Product, Cost and Revenue

Hand-drawn movement and shift comic showing students comparing movement between points on one demand curve with a rightward shift of the entire demand relationship.

Demand and Supply Shifts vs. Movements Along Curves

Hand-drawn social and factor market comic contrasting a community accounting for workshop pollution with a carpenter comparing an additional workers output and hiring cost.

Marginal Curves: Social Cost, Labor Demand and Monopsony

Hand-drawn market power comic showing a pottery seller and tutor finding quantity where marginal revenue meets marginal cost, then moving up to demand to read price.

Monopoly Demand and Marginal Revenue: Price and Profit

Hand-drawn competitive firm comic showing a wheat farmer and student comparing market supply and demand with a separate firm graph, transferring price to a horizontal marginal revenue line and selecting firm output.

Perfect Competition: Firm and Market Graphs Explained

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