Can I get answers about these questions??
These questions are about Chapter 16-22 in Principles of Microecnomics sixth editon.
Monopolistic competition
ΓΒ· What makes a market monopolistically competitive?
ΓΒ· How do monopolistically competitive firms decide how much to produce and what price to set?
ΓΒ· How to monopolistically competitive firms make short-run and long-run choices?
ΓΒ· What is the role of advertising?
Oligopoly and Game Theory
ΓΒ· What is the prisonerΓΒ’Γ’Β¬ÒΒΒ’s dilemma and what are some applications?
ΓΒ· What is collusion and why is it difficult? What are some things that can make it harder or easier to collude?
ΓΒ· What is a dominant strategy?
ΓΒ· How can you find a Nash equilibrium in a game where a player has a dominant strategy?
Markets for Factors of Production
ΓΒ· How do profit maximizing firms decide how much of a factor of production (such as labor) to use? In other words what is the demand for factors of production?
ΓΒ· What changes the demand for factors of production?
ΓΒ· What determines the supply for labor? Supply for other factors of production?
ΓΒ· How are the rental prices and wages determined in a competitive market for factors of production?
Earnings and Discrimination
ΓΒ· What are some reasons why different people have different labor earnings?
ΓΒ· What are some difficulties in measuring discrimination?
ΓΒ· Why might firms that discriminate have difficulty competing?
ΓΒ· Why might a firm find it profitable to discriminate?
Income Inequality and Poverty
ΓΒ· What are some political philosophies regarding what the government should do to decrease poverty or income inequality?
ΓΒ· What are some policies that can reduce poverty? What are the strengths and weaknesses of these policies?
Consumer Choice
ΓΒ· What is the consumers budget constraint?
ΓΒ· How does a consumer choose how much of different goods to consume?
ΓΒ· What are the income and substitution effects?
ΓΒ· How does the demand curve relate to the consumer choice problem?
ΓΒ· How does the consumer choice problem relate to labor supply and borrowing/lending behavior?
Asymmetric Information and Healthcare
ΓΒ· What is moral hazard?
ΓΒ· What is adverse selection?
ΓΒ· How do these two concepts relate to the market for insurance and healthcare?
ΓΒ· How do insurance companies try to deal with adverse selection and moral hazard?