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Microeconomics FRQ Topics

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2007-2002 exams are available HERE
2002-1999 exams are available HERE

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Year and form (A or B)


FRQ #1 topic


FRQ #2 topic


FRQ #3 topic


2007 A

Market models, Monopoly, tax vs. subsidyPC Labor market, MRP=MRC, productivityOligopoly, game theory, payoff matrixes, dominant strategy, collusion

2007 B

Market models, monopolistic competition, MR=MC, elasticity, allocative efficiencyOligopoly, game theory, payoff matrixes, dominant strategy, collusionATC vs. AVC, profit maximization and ATC, shutdown decision

2006 A

Market Models, Monopoly, MR=MC, elasticity, subsidyMC, profit maximization, MR=MC, impact of taxS&D, determinants of D, subsidies, determinants of S, externalities, socially optimal level of output

2006 B

Market models, Monopoly, MR=MC, shutdown decision Perfect Competition, S&D, consumer and produce surplus, price ceiling
Labor Market, perfect competition, MRP=MRC

2005 A

Market Models, MR=MC, Perfect competition, barriers to entryS&D, compliments, elasticity, consumer surplus DWL
Labor Market, Perfect competition, MRP=MRC, Diminishing marginal returns

2005 B

Market Models, MR=MC, Labor Markets, Monopoly, MRP=MRCMarket Models, MR=MC, Perfect competition, cost curves, SR supply curveS&D, copmliments, elasticity, TR test

2004 A

Market Models, externalities, Monopoly, PC, allocative efficiencyS&D, trade and tariffs, consumer/producer surplusMarket Models, MR=MC, monopolistic competition, LR changes in fixed costs

2004 B

Market Models, MR=MC, monopoly, price/MR relationship, profits, elasticityTax incidence, S&D, elasticityS&D, trade and tariffs, consumer/producer surplus

2003 A

Market models, externalities, MR=MC, P=MCMarket Models, MR=MC, monopoly, consumer surplus and DWLMarket Models, Labor market, MRP=MRC, productivity

2003 B

Market Models, MR=MC, PC/Monopoly, DWL, long-run profitsS&D, tariffs and trade, consumer/producer surplusLabor market in perfect competition, MRP=MRC, changes in price and wages

2002 A

Market Models, Labor market, PC in product and labor markets, long-run PCNegative externalities, S&D, free riders, MSC=MSBMarginal utility, equimarginal principal, MU/P = MU/P = 1

2002 B

Market Models, MR=MC, PC, monopolistic competition, consumer/producer surplusNegative externalities, S&D, MSC=MSBLabor market, MRP=MRC, S&D, derived demand, price floor



Perfect competition, MR=MC, price ceiling, supply curve in PCNegative externalities, P=MC, S&D, socially-optimal output levelLabor market, MRP=MRC, PC



Market models, MR=MC, PC/Monopoly, allocative efficiencyLabor market, MRP=MRC, costs, profitS&D, tariffs and trade, world price, substitute goods, elasticity


S&D, substitute goods, derived demandComparative and absolute advantage, PPC, grid for comp. advantage, terms of trade
Market models, MR=MC, PC/Monopoly, relationship b/w MR and P

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