micro drills10 questions
Mixed Micro Review 3
A cross-topic workout: derived demand, market failures, game theory, and information problems.
Q1.
The demand for truck drivers is derived from:
Multiple choice · Foundations
Q2.
A negative externality means the market produces ___ the efficient quantity.
Multiple choice · Intermediate
Q3.
In a prisoners' dilemma, the Nash equilibrium is:
Multiple choice · Intermediate
Q4.
A good that is rival but nonexcludable is a:
Multiple choice · Intermediate
Q5.
Moral hazard is ___; adverse selection is ___.
Multiple choice · Advanced
Q6.
A Pigouvian subsidy is appropriate for:
Multiple choice · Intermediate
Q7.
If MRP = 30, the firm should:
Multiple choice · Intermediate
Q8.
Free entry in monopolistic competition leads to:
Multiple choice · Intermediate
Q9.
A dominant strategy is best:
Multiple choice · Intermediate
Q10.
Cap-and-trade achieves pollution cuts at lower cost than uniform quotas because:
Multiple choice · Advanced