Intro to Microeconomics
Questions for discussion
Chapter 7
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- Are colleges subject to economies of scale or diseconomies?
- What causes unit labor costs to rise in some nations and fall in others?
- Suppose all your friends offered to help wash your car. Would marginal physical product decline as more friends helped? Why or why not?
Chapter 8
- How can the demand curve facing a firm be horizontal if the market demand curve is downward-sloping?
- Why isn’t the rate of output that minimizes average total cost the most profitable rate of output?
- Is Apple Computer a perfectly competitive firm?
Chapter 9
- Why would anyone want to enter a profitable industry knowing that profits would eventually be eliminated by competition?
- What industries do you regard as being highly competitive? Can you identify any barriers to entry in those industries?
- What happens to the factors of production that exit an industry?
Chapter 10
- How does individualized price discrimination by car dealers affect their total revenue and profits?
- What would have happened to iPad prices and features if Apple had not faced competition from iPad clones?
- What similarities exist between the AT&T, Microsoft, and Google antirust cases?
Chapter 11
- How many bookstores are on or near your campus? If there were more bookstores, how would the price of new and used books be affected?
- If an oligopolist knows rivals will match a price cut, would it ever reduce its price?
- Domino’s and Pizza Hut hold 66 percent of the delivered-pizza market. Should antitrust action be taken?
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