Pass your ECN 231: Principles of Microeconomics (UNILAG) – Exam Revision with this discussion class.

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The lecturer breaks down the most-tested micro topics using past-question patterns, intuitive graphs/diagrams, and exam-style solutions so you can study smarter and score higher.

What you’ll master in this class
1. Core Foundations: scarcity, choice, opportunity cost, PPF (shifts & trade-offs)
2. Demand & Supply: market equilibrium, curve shifts, price controls (ceilings/floors), tax & subsidy effects
3. Elasticities: PED, PES, YED, XED — formulas, interpretation, determinants, revenue impact
4. Consumer Theory: utility, indifference curves, MRS, budget line, optimum choice, income/substitution effects
5. Production & Costs: short-run vs long-run, cost curves (MC, AVC, ATC), LRAC, economies & diseconomies of scale
6. Market Structures: perfect competition, monopoly (MR=MC, deadweight loss), monopolistic competition, oligopoly (game theory basics)
7. Welfare & Policy: deadweight loss, externalities & Pigouvian tools, market failure, government intervention

UNILAG ECN 231 past-question drill: fast solutions, marking-scheme cues, common pitfalls to avoid

Why this video is your best revision partner
1. Exam-focused explanations tailored to UNILAG ECN 231
2. Clean, step-by-step workings & graph analysis
3. Speed tips for MCQs/short answers + concise templates for theory questions

Downloadable formula sheet & graph pack (check description/pinned comment)

🎓 Course: ECN 231 — Principles of Microeconomics
🏫 School: UNILAG (University of Lagos) • Session: 2026 exam season
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