Minimum wage laws

Minimum wage laws
increase unemployment rates
for unskilled workers.

Quantity theory of money

Money supply times
velocity equals price
level times spending.

Market equilibrium

When supply equals
demand a market is in
equilibrium.

Laws of supply and demand

Supply goes up as
prices go up, and goes down
as prices go down.
Demand goes up as
prices go down, and goes down
as prices go up.

Profit maximization

Total profit is
maximized when marginal
profit is zero.