Assignment:
1. Is there discrimination in the labor market? Explain.
2. Explain why labor is the most important factor of production.
3. Why do we have wage inequality?
4. Can a monopoly ever be good for society? Explain.
5. Explain why firms in an industry spend a large amount of money on advertising.
6. Explain why regulators often raise prices.
7. Is there value in putting yourself into someone else's shoes?
8. How many firms are necessary to make a market competitive?
9. Do people exhibit a preference for immediate gratification?