<p>Not sure why there isn't a thread up for the counterpart to Macro. I have a few questions:</p>
<p>a) Why is MR positive (in a monopoly) when demand is elastic? I can't seem to figure this out at all.</p>
<p>b) How much do we need to know in terms of externalities</p>
<p>c) How much do we need to know about public goods</p>
<p>Thanks.</p>
<p>a) Not sure what you mean by MR, marginal revenue is always diminishing I thought. Unless you mean the monopoly will receive profits… That would be because the price it charges is higher that the cost curve.</p>
<p>b) and c) as far as those, they’re about 10% of the test with w/ like 60 questions, so at most 10 for both of the combined.</p>
<p>A) Axiom: Well a monopolist is only going to operate where he is maximizing profit. When Demand is elastic an increase in output (decrease in price) will raise profit. Thus MR is positive. (And Monopolists will only operate in that area).</p>
<p>page 214 on this link is a good reference: [Economics</a> - Google Book Search](<a href=“Economics, Second Edition - Timothy Tregarthen, Timothy D. Tregarthen, Libby Rittenberg - Google Books”>Economics, Second Edition - Timothy Tregarthen, Timothy D. Tregarthen, Libby Rittenberg - Google Books)</p>
<p>B) Probably one question on the MC: something like “if there is a negative externality, what can be said about the output and price of a good” or it’ll give you a scenario and ask if it is a negative or positive externality. </p>
<p>C) Again probably a question on the MC: “which of the following is a public good:” .</p>
<p>All this is based of my teacher and practice MCs, so “disclaimer”.</p>
<p>Actually, my teacher predicts that due to their absence over the years, an externalities problem is likely to show up on the FRQs.</p>
<p>yes externalities! i think i can do one. we dont have to show any shifts tho, right?</p>
<p>Easy test today!!! :)</p>
<p>That was a lot easier than Macro, which was a heck of a surprise for me, I answered 52/60 on my first pass and then pretty much finished the test off.
FRQs were pretty easy too. :)</p>
<p>Yeah way easier than Macro, some of them I just looked at and answered in like a second. Plus lots of time left on the FRQs.</p>
<p>Oh my god Macro was so much easier than this, I’m like sobbing right now it was terrible.</p>
<p>Bananafish, way different for me!!</p>
<p>Micro was surprisingly easier than Macro.</p>
<p>So much easier! And usually it’s harder than Macro. On Macro there were like 10 questions I wasn’t completely sure of and I missed an entire FR question. On Micro I pretty much knew everything and finished early on each.</p>
<p>I thought the FRQ’s for micro was tricky. FRQs for macro was a breeze.</p>
<p>Hipster:</p>
<p>FRQ 1 was insane!! 2 was easy. 3… decent.</p>
<p>For Macro that is.</p>
<p>Sexycani:</p>
<p>Other way around for me.</p>
<p>Shizzle, I think it was the opposite for me. </p>
<p>FRQ 1 I aced.
I got FRQ 2 right then changed the answers and got (b) and (c) wrong (shifted wrong curve).
FRQ 3 was tricky, but I think I got em all.</p>
<p>Well, the last part of FRQ I completely BS’d. Like the very last subsection of it. I think I got it right, but it freaked me out when I first looked at it. Idk, 2 was the only one I had certainty on.</p>
<p>And I still don’t know what the answer to that last part of number 1 was. Other sections… eh okay.</p>
<p>Yeah, for macro 1 was a piece of cake, 2 was a piece of cake, and 3 was pretty easy.</p>
<p>(For me)</p>
<p>Micro, 1 was ooookay (though I think I got some subsections wrong), 2 was a disaster, and 3 was good, I guess.</p>
<p>MC, who knows?</p>
<p>I feel like the subject difficulty has a lot to do with which was covered first (if you’re taking the actual course). Macro concepts are hammered in, whereas Micro is a lot fuzzier.</p>
<p>i agree that micro number 3 was very easy (hopefully i did it right). im pretty sure i got the last part of question 1 wrong as well</p>
<p>Why does everyone here take both Macro and Micro? O_O</p>
<p>I covered Micro first and thought it was an easier subject in general. Not that Macro is hard, but today it was a little scary. I think I was nervous and I had a stupid song stuck in my head the whole time. And, I was the only one taking it, so location of test was an issue, and it was loud. So by the afternoon I had moved to a quieter place. Of course, I also self studied Macro while having a teacher for Micro.</p>