Questions from General Economics


Q: How might advertising with no apparent informational content still convey information to

How might advertising with no apparent informational content still convey information to consumers?

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Q: If a group of sellers could form a cartel, what quantity

If a group of sellers could form a cartel, what quantity and price would they try to set?

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Q: Compare the quantity and price of an oligopoly to those of a

Compare the quantity and price of an oligopoly to those of a monopoly.

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Q: Compare the quantity and price of an oligopoly to those of a

Compare the quantity and price of an oligopoly to those of a perfectly competitive market.

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Q: A firm in a competitive market receives $500 in total revenue

A firm in a competitive market receives $500 in total revenue and has marginal revenue of $10. What is the average revenue, and how many units were sold?

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Q: How does the number of firms in an oligopoly affect the outcome

How does the number of firms in an oligopoly affect the outcome in the market?

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Q: Give two examples other than oligopoly that can be explained by the

Give two examples other than oligopoly that can be explained by the logic of the prisoners’ dilemma.

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Q: What kinds of behavior do the antitrust laws prohibit?

What kinds of behavior do the antitrust laws prohibit?

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Q: If the population of the United States suddenly grew because of a

If the population of the United States suddenly grew because of a large wave of immigration, what would happen to wages? What would happen to the rents earned by the owners of land and capital?

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Q: Why are coal miners paid more than other workers with similar amounts

Why are coal miners paid more than other workers with similar amounts of education?

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