1. Test Friday! Opportunity cost Formulae for: market supply curve, aggregate demand curves If the market for IPhone cases has a demand curve of Q (D)=60-P and a supply curve of Q (S)=2P, then equilibrium price and quantity will be P= _____, Q= _________

2. More test stuff Types of unemployment Fiscal v monetary policy Elastic v inelastic scarcity principle GDP CPI normative economics

3. And finally… Treasury FMOC Fed SEC Central bank Oligopolies, natural monopolies, cartel, market failure, deflation, inflation