[Verse 1] When buyers meet sellers in the marketplace square Price and quantity dance without a care Elastic demand bends like rubber bands stretched wide Inelastic stays firm when prices collide Consumer surplus measures joy above what's paid Producer surplus counts the profit parade [Chorus] Micro-economics, watch the patterns flow Supply curves rising, demand curves falling low Perfect competition, monopoly's tight grip Oligopoly games where rivals take their trip Nash equilibrium finds the stable ground Where no one deviates from strategies found [Verse 2] Production functions map inputs to output's height Total cost climbs mountains, fixed plus variable flight Average cost per unit spreads the burden thin Marginal cost shows what one more brings in Economies of scale make bigger factories sing Long-run curves reveal what expansion can bring [Chorus] Micro-economics, watch the patterns flow Supply curves rising, demand curves falling low Perfect competition, monopoly's tight grip Oligopoly games where rivals take their trip Nash equilibrium finds the stable ground Where no one deviates from strategies found [Bridge] Perfect markets swarm with countless tiny bees Monopolistic competition brands the keys Game theory prisoners trapped in their dilemma Choose cooperation or betray the schema Price discrimination segments every crowd Natural monopolies regulated and proud [Verse 3] Market structures paint four different scenes Perfect competition keeps margins lean Monopolists set prices high above Oligopolies collude with strategic shove Each firm's decision ripples through the game Profit maximization drives their claim [Outro] From surplus triangles to cost curve slopes Microeconomics builds financial hopes Master these foundations, CFA bound Economic wisdom in every sound
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