Questions from Microeconomics


Q: The entrance fee into Yellowstone National Park in northwestern Wyoming is “$

The entrance fee into Yellowstone National Park in northwestern Wyoming is “$50 for a private, noncommercial vehicle; $40 for a motorcycle; or $20 for each visitor 16 and older entering by foot, bike,...

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Q: The following table is similar to Table 17.2 on page

The following table is similar to Table 17.2 on page 573, except that it includes the earnings of Asian males and females. Table 17.2: Does the fact that Asian males are the highest earning group i...

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Q: UPS and FedEx both struggle to deliver the surge of packages they

UPS and FedEx both struggle to deliver the surge of packages they receive during the end-of-year holiday season. According to an article in the Wall Street Journal, in 2014, both firms considered char...

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Q: Coca-Cola and Pepsi both advertise aggressively, but would they

Coca-Cola and Pepsi both advertise aggressively, but would they be better off if they didn’t? Their commercials are usually not designed to convey new information about their products. Instead, they a...

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Q: An economist argues that with respect to advertising in some industries,

An economist argues that with respect to advertising in some industries, “gains to advertising firms are matched by losses to competitors” in the industry. Briefly explain the economist’s reasoning. I...

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Q: World War I began in August 1914 and on the Western Front

World War I began in August 1914 and on the Western Front quickly bogged down into trench warfare. In Belgium and northern France, British and French troops were dug into trenches facing German troops...

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Q: In 2014, Walmart decided that it would begin a new policy

In 2014, Walmart decided that it would begin a new policy in which its stores would match prices being charged by large Web retailers such as Amazon. For example, if it was selling a 4K television for...

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Q: How can improvements in health increase a country’s total income? How

How can improvements in health increase a country’s total income? How can increases in a country’s total income improve health?

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Q: In 2015, the U.S. Department of Justice was

In 2015, the U.S. Department of Justice was investigating whether the four major U.S. airlines were colluding by restraining increases in capacity with the goal of avoiding price cutting. An airline i...

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Q: An article discusses the market for autographs by Mickey Mantle, the

An article discusses the market for autographs by Mickey Mantle, the superstar center fielder for the New York Yankees during the 1950s and 1960s: “At card shows, golf outings, charity dinners, Mr. Ma...

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