ECON 1B03 Final: Exam Coverage 1B03 Winter 2013.pdf

hello my friend
this is me , you wrote a good paper to me m it was about my grand father death , it was very excellent work .

This time I need you to write a very good paper too , it is about that :

I had to take a class during this vacation ( fall mini semester ) and I am passing the class but I need to get B+ , because if I get bellow B+ my semester GPA will be below 2.0 so the my government will cancel my scholarship and send me back to my country. because the semester GPA had to 2 or more.

Please write a very good strong paper to my professor to give me B+

BTW I have missed the midterm exam because I had an emergency. Also I have a doctor for that.

I asked the professor to retake the midterm test but he said that you semester grade will be you final exam.

The midterm will help a lot to rise my course grade.


Also I was going back my country and have a vacation there but I stayed and took the class.



After reading all that and understand my situation , I need you to write a paper when the professor read it , he will give me B+

my friend I forgot to tell you that :

i need you to add these points into the paper :

1- my grand father passed away
2- i was not stable , my roommate did a serious crime so i had to change home
3- you can give me incomplete grade for now until i do more work or take the midterm

Two very important concepts mentioned in this chapter are budget constraints and the allocation of income to maximize utility. These are problems that all of us face on a continuing basis. For example, we may be hungry for pizza so we go to a pizza parlor and have pizza. Maximum utility. But then one of our friends calls and want to go for pizza so we go again for pizza. We still allocate income but the utility is less. So is it worth it? Discuss here times when you have experienced a situation as I described above (maybe not with pizza). Include your budget constraints and how you most often intend to allocate your income resources with those constraints. And, of course, include the actual "interferences" to your budget goals.

Please answer this question in extreme detail (about three paragraphs or more). This class is microeconomics to be specific. Thank you!

Essay questions are due at the end of the course. It is strongly recommended that you accumulate your answers as you complete each unit and don't leave them all until the last minute. Please type your responses to the following short answer/discussion questions and short problems. Although your answers need not be lengthy (generally, 1-2 short paragraphs is fine), you should be careful to respond to all parts of the question asked. It is very important that your answers demonstrate that you have made the effort to read the chapter that relates to the question and thoroughly studied the relevant topic. Answers should be submitted in complete sentence and paragraph form, and writing presentation is important. Please remember that late essay questions are NOT accepted. 1. How is a "market" defined? Distinguish between an industry and a market. (1 point) 2. Suppose a market becomes more competitive over time. What happens to the elasticity of demand for a particular firm's good as its market becomes more competitive? (1 point) 3. Why are the monopolist's and the monopolistically competitive firm's demand curves downward sloping while the competitive firm's demand curve is horizontal? (1 point) 4. Why is a perfectly competitive firm's long-run supply curve the same as its marginal cost curve above the average total cost curve? (1 point) 5. Explain why monopolists do not achieve efficiency. (1 point) 6. Another student advocates the forced break-up of large firms, such as Microsoft and AT&T, on the grounds that they have a lot of monopoly power, which they use to charge inefficiently high prices. According to Schumpeter, would breaking apart these gigantic firms guarantee consumers lower prices? Explain. (1 point) 7. Explain why firms should not shut down in the short run until price falls below average variable cost. (2 points) 8. Suppose your economics professor publicly states that she grades on a curve (i.e., the top 10% of the students get an A, the next 20% get a B, the next 40% get a C, the next 20% get a D, and the lowest 10% fail). The whole class could save itself a lot of work by agreeing privately not to study at all for the final exam and just letting the rankings thus far determine the final grades. Why might such an agreement be difficult to maintain and enforce? Which market structure, if any, is this situation most analogous to? (1 point) 9. Why do firms practice price discrimination? Is efficiency affected by price discrimination? If so, how? (1 point)