Q1. Using supply and demand analysis to predict the effect of e-commerce on equilibrium output and equilibrium price of products gaining a presence on the Internet
Q2. Explain how productivity determines our standard of living?
Q3. What is the common-pool problem, and how can it be reconciled?
Q4. The widget Industry in Any town is a monopoly, controlled by Widget Corp. Its demand curve for the local market is given by
P = 800 - 20 W
Where number of widgets sold per period is W.
The total cost function (including opportunity or implicit costs) for Widget Corp. is
TC = 300 + 500 W + 10 W2