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- Download: http://writingsdepot.com/downloads/economic-questions/
- 1. Perfectly competitive firms are called price
- takers. What does this mean? Why are they price
- takers?
- 2. Most cases of price discrimination involve
- services rather than goods. Can you offer an
- explanation for this observation?
- 3. Discuss the types of barriers to entry, and
- explain whether each type is likely to provide
- long-term monopoly power. What are the
- allocative and distributive differences between
- monopoly and perfect competition? What causes
- these differences?
- 4. How is monopolistic competition like
- monopoly? How is it different?
- 5. Compare and contrast perfect competition and
- oligopoly.
- 6. If work provides disutility, why do people ever engage in either market work or nonmarket work?
- 7. What can cause the demand for a resource to shift?
- 8. Why does the division of resource earnings into economic rent and opportunity costs depend on the resource ownerβs elasticity of supply?
- 9. What does it mean to say that the demand for a resource is a
- derived demand? Why does the supply curve of a resource slope upward?
- 10. What is the price of an hour of leisure? An hour of non-market work? What does it mean to say that leisure is a normal good? Why doesnβt the market supply curve for labor bend backward?
- Download: http://writingsdepot.com/downloads/economic-questions/
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