Problem (1) In the first graph link below, move the green pointer on the horizontal axis to "3.0" and how many pizzas were gained and how many robots lost and why?
https://highered.mcgraw-hill.com/sites/0072819359/student_view0/chapter2/interactive_graphs.html
Problem (2) Explain the difference between "rational self-interest" and "greed".
Problem (3)
a. Explain what happens to demand when the price of a product changes.
b. Explain what happens to demand when a parameter of demand changes.
Problem (4) In the interactive graph move the demand curve from 7 to 8 on the horizontal axis, what happens to equilibrium price and why.
https://highered.mcgraw-hill.com/sites/0072819359/student_view0/chapter3/interactive_graphs.html
Problem (5) Why total revenue is maximized at 3 units sold and why it would fall for lesser or greater numbers of units sold.
https://highered.mcgraw-hill.com/sites/0072819359/student_view0/chapter20/interactive_graphs.html
Problem (6) Indicate three stages of production which differ in terms of marginal productivity and cost and why they are different.
Problem (7) Explain the reasons for this shape for both long-run and short-run curves.
Problem (8) Why does the equation MR=MC indicate that profits are maximized?
Problem (9)
A. Why will a monopoly never operate in the inelastic portion of the demand curve?
https://highered.mcgraw-hill.com/sites/0072819359/student_view0/chapter24/interactive_graphs.html
B. What is a comparison of pure competition and monopoly in terms of allocative efficiency (P=MC?), productive efficiency (P=Min AC?), and equity (P=AC in general?) What does these terms mean?
Problem (10) Explain wage determination in a bi-lateral monopoly.
Problem (11) Explain the "Least Cost Rule" and the "Profit Maximizing Rule and why the Least Cost Rule is not sufficient.
Problem (12) Identify the name of the person who originated the idea of "monopsony" and explain her idea.
Problem (13) How are the minimum wage and union wages related?
Problem (14) How do third-party payers, that are insurance or the government, affect the amount of health-care people buy?
Problem (15) How does asymmetry information in the health-care industry affect the demand for health-care?
Problem (16) Explain why some states do not charge sales tax for basic foods
Problem (17) Define progressive, regressive and proportional taxes and give an example for each one.