@appleandrice</p>
i hope you’re right!!! =0</p>
It never asked to draw the effect of the tax. I don’t know what test you took.</p>
^It asked to draw the dead weight loss prior to the tax. It never asked to draw the deadweight loss from imposing the tax. It simply asked whether or not the tax would effect the current deadweight loss and your reasoning.</p>
I don’t even remember it specifying lump-sum tax. I thought it was just tax. What’s the percentage correct you need for a 4 on each exam?</p>
Micro MC was very good. The first FRQ I think I did well on, and the other 2 probably just fair.</p>
4 most likely, 5 if I’m realllyyy lucky</p>
Macro was not so good at all (well that’s what I get for <day review!). The MC I probably got 35-40? </p>
For the FRQ, I had to put the best BS I had, which actually <em>seemed</em> pretty good lol.</p>
@appleandrice
Part b asked about the lump sum tax, for part a it just wanted to show the deadweight loss, since a negative externality creates a deadweight loss.</p>
I said the lump sum would have no effect on DWL</p>
Yea I know I got a right, I guess I got b wrong. Darn, I wish I caught it. #2 wasn’t bad though was it? You just had to draw a perfectly competitive market firm then a perfectly competitive labor firm…right? Or did I miss something else -___-</p>
effff ya’ll i actually felt good when i left that exam… ****t</p>
Yeah, but you had to make sure ATC was below the horizontal demand function for the market firm, since it said that a profit was being realized.</p>
Yea, so that means I got all of 2 right. Pretty sure looking back on this thread I got all of #1 right. I just missed those darn 2 points for #3. How many can I get wrong on MC and still get a 5, anyone know?</p>
With 2 wrong on #3, probably around 5-8 MC wrong depending no the curve.</p>
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Also, guys, the embargo is still in effect. -_- be careful when discussing</p>
please tell me the supply curve for a perfectly competitive labor market is horizontal…</p>
just wondering: what would make the supply curve for, I don’t know, WHEAT, go up?</p>
for a market it is not horizontal. for a firm, it is.
@thaman</p>
on the test was it a firm or the market? :S</p>
firm 10char</p>
Thanks, God…micro please save me</p>
Thank the baby jesus!</p>