FRQ Breakdown by Topic
2019 1 Questions
2019 1 Rubrics 2019 2 Questions
2019 2 Rubrics |
FRQ #1
Monopoly, profit maximization, efficiency, elasticity, price discrimination
Perfect competition in the short-run and long-run
Perfect Competition, elasticity, related goods' prices, determinants of demand
Natural Monopoly, allocative efficiency, accounting profit vs economic profit, elasticity and the TR test, effects of increased competition in a monopolistic market
Monopolistic Competition, MR=MC, shut-down rule, long-run equilibrium in imperfect competition, economies of scale
Perfect Competition, subsidy, long-run equilibrium, MR=MC
Natural Monopoly, MR=MC, Price ceiling, allocative efficiency, consumer surplus
Market models, Monopoly, tax vs. subsidy
Market models, monopolistic competition, MR=MC, elasticity, allocative efficiency
Market Models, Monopoly, MR=MC, elasticity, subsidy
Market models, Monopoly, MR=MC, shutdown decision
Market Models, MR=MC, Perfect competition, barriers to entry
Market Models, MR=MC, Labor Markets, Monopoly, MRP=MRC
Market Models, externalities, Monopoly, PC, allocative efficiency
Market Models, MR=MC, monopoly, price/MR relationship, profits, elasticity
Market models, externalities, MR=MC, P=MC
Market Models, MR=MC, PC/Monopoly, DWL, long-run profits
Market Models, Labor market, PC in product and labor markets, long-run PC
Market Models, MR=MC, PC, monopolistic competition, consumer/producer surplus
Perfect competition, MR=MC, price ceiling, supply curve in PC
Market models, MR=MC, PC/Monopoly, allocative efficiency
S&D, substitute goods, derived demand
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FRQ #2
Perfect competition, labor market, marginal cost, PC labor market, MRC and MRP Market failure, positive externalities, price ceiling, subsidies Resource markets, derived demand, MRP=MRC, Labor market, MRP=MRC, Law of Diminishing Marginal Returns, derived demand Utility Maximization, XED, income and substitution effects Utility maximization, PED, excise tax Market failure, positive externalities, MSC/MPC, MSB/MPB. Excise tax PC Labor market, MRP=MRC, productivity Oligopoly, game theory, payoff matrixes, dominant strategy, collusion MC, profit maximization, MR=MC, impact of tax Perfect Competition, S&D, consumer and produce surplus, price ceiling S&D, compliments, elasticity, consumer surplus DWL Market Models, MR=MC, Perfect competition, cost curves, SR supply curve S&D, trade and tariffs, consumer/producer surplus Tax incidence, S&D, elasticity Market Models, MR=MC, monopoly, consumer surplus and DWL S&D, tariffs and trade, consumer/producer surplus Negative externalities, S&D, free riders, MSC=MSB Negative externalities, S&D, MSC=MSB Negative externalities, P=MC, S&D, socially-optimal output level Labor market, MRP=MRC, costs, profit Comparative and absolute advantage, PPC, grid for comp. advantage, terms of trade |
FRQ #3
Market failure, negative externalities, lump-sum tax Labor market, monopsony, MRC and MRP, minimum wage Consumer and Producer surplus, negative exernalities, MSB=MSC, excise tax PED, PES, Excise tax and tax burden, YED Oligopoly, game theory, payoff matrix, dominant strategy, subsidy Price ceiling, natural monopoly, allocative efficiency Diminishing returns, MRP=MRC, Resource markets Oligopoly, game theory, payoff matrixes, dominant strategy, collusion ATC vs. AVC, profit maximization and ATC, shutdown decision S&D, determinants of D, subsidies, determinants of S, externalities, socially optimal level of output Labor Market, Perfect competition, MRP=MRC, Diminishing marginal returns S&D, copmliments, elasticity, TR test Market Models, MR=MC, monopolistic competition, LR changes in fixed costs S&D, trade and tariffs, consumer/producer surplus Market Models, Labor market, MRP=MRC, productivity Labor market in perfect competition, MRP=MRC, changes in price and wages Marginal utility, equimarginal principal, MU/P = MU/P = 1 Labor market, MRP=MRC, S&D, derived demand, price floor Labor market, MRP=MRC, PC S&D, tariffs and trade, world price, substitute goods, elasticity Market models, MR=MC, PC/Monopoly, relationship b/w MR and P |