Microeconomics: An Introduction to Economic Efficiency PRACTICE EXERCISES ~/~ Lessons ~/~ Video Lecture Notes ~/~ Mic Web App ~/~ Web Quizzes ~/~ Flashcards ~/~ Blackboard ~/~ ~/~ Textbook Website ~/~

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REVIEW EXERCISES In order to do well in an economics course you must practice. Many students have read the book, maybe more than once, and failed the exams. Think of economics like a you would a math class. You would never just read a math textbook and not do any problems before taking an exam. If you did you would probably fail. I am not saying that there is a lot of math (but some) in this course, but you must do problems or you will not really learn the concepts. DO PROBLEMS. BEGIN WITH: THE REQUIRED ACTIVITIES on Blackboard THE YELLOW PAGES on Blackboard KEY TERM FLASHCARDS on Quizlet WEB QUIZZES I have also prepared many extra practice activities for you. ALL can be found on our Blackboard site in a section of the main menu called: FOR PRACTICE. There you will find the following: PREQUIZZES used in my face-to-face sections CLICKER QUIZZES used in my face-to-face sections REVIEW QUIZZES TEXTBOOK SOLUTIONS for answers to the end of chapter textbook questions PRACTICE QUIZZES / OTHER Ch 8 - 4 PRODUCT MARKETS practice quiz on Blackboard Ch 11 - GAME THEORY QUIZ practice quiz on Blackboard Ch 13 - 8 LABOR MARKETS practice quiz on Blackboard CH13 SUMMARY 8 MODELS pdf FINAL EXAM REVIEW Also, there are VIDEO REVIEW QUIZZES (Thinkwell Exercises) for most of the online video lectures (VIDEO LOGIN)

Textbook Practice Questions: There are also good questions found in our textbook, the textbook website, and in the optional textbook Study guide that you may purchase (paperback or online for $15). i have reviewed these sources and selected problems that we have covered inour readings and videos and that will be similar to those found on the exams and quizzes. Worked Problems from the textbook website (free) Quizzes from the textbook website (free) End-of-Chapter Questions from the textbook with solutions on Blackboard (free with textbook) UNIT 1 UNIT 2 Chapter: 1 - Intro., 5Es, and Choice 2 - The Market System and the 5Es 3 - Demand and Supply 5 - The Public Sector (Govt) Chapter: 4 - Elasticity 6 - Consumer Choice 7 - Production Costs UNIT 3 UNIT 4 Chapter: 8 and 9 - Pure Competition 10 and 18 - Monopoly 11 - Monopolistic Competition and Oligopoly Chapter: 12 - Demand for Resources 13 - Wages 20 - Income Inequality 22 - Immigration

Textbook Practice Questions   Unit 1 - An Introduction to Economics, Efficiency, and the Market System   Chapter 1 - Limits, Alternatives, and Choices: What Is Economics and What Are the 5Es? CHAPTER 1 PRACTICE EXERCISES Worked Problems: 1.1 and 1.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter1/worked_problems.html Textbook Website Quizzes Chapter 1: ALL questions at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter1/quiz.html Chapter 5: # 9 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter5/quiz.html End-of-Chapter Questions and Problems: Chapter 1: Question 1, 2, 5, 7-11; Problems 1, 3, 4, 5, 6, 7, 8; Chapter 1 Appendix: Problems # 1, 2, 7, 8 Chapter 7: Question # 11 Chapter 5: Question # 11   Chapter 2 - The Market System and the 5 Es  CHAPTER 2 PRACTICE EXERCISES Textbook Website Quiz: Chapter 2 # 1-9 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter2/quiz.html End-of-Chapter Questions and Problems: Chapter 2: Questions #1, 3, 5, 9, 10, 11, 13   Chapter 3 - Demand, Supply, and Market Equilibrium -- and the 5Es CHAPTER 3 PRACTICE EXERCISES Worked Problem 5.1 and 5.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter5/worked_problems.html Textbook Website Quizzes Chapter 3ALL questions at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter3/quiz.html Chapter 5, # 1, 3, 9, 10 at: http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter5/quiz.html End-of-Chapter Questions and Problems: Chapter 3: Questions # 1-9; Problem # 2, 3, 4 Chapter 3 Appendix: Questions # 1, 4-7; Problem: # 3 Chapter 5 Questions #2, 3; Problems # 1, 2 Chapter 5 - The Public Sector (Government) and Market Failures CHAPTER 5 PRACTICE EXERCISES Worked Problems 5.1 and 5.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter5/worked_problems.html Textbook Website Quiz Chapter 5:  # 1, 2, 4, 5, 6, 7 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter5/quiz.html End-of-Chapter Questions and Problems Chapter 3: Questions 11, 12; Problems # 7 Chapter 5: Questions 1, 4, 5, 7-10, 12, 13 Unit 2 - Elasticity, Consumer Decisions, and Costs of Production  Chapter 4 - Elasticity CHAPTER 4 FOR PRACTICE Worked Problems 4.1 and 4.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter4/worked_problems.html Textbook Website Quizzes Chapter 4: ALL at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter4/quiz.html Chapter 16: # 10 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter16/quiz.html End-of-Chapter Questions and Problems: Chapter 4: Questions #ALL; Problem 1, 3, 4, 5, 7 Chapter 16: Questions # 6, 7   Chapter 6 - Consumer Behavior CHAPTER 6 FOR PRACTICE Worked Problem 6.1 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter6/worked_problems.html Textbook Website Quiz: Chapter 6 ALL at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter6/quiz.html End-of-Chapter Questions and Problems Questions # 1, 2, 5, 6; Problems # 1-5, 7   Chapter 7 – Businesses and the Costs of Production CHAPTER 7 FOR PRACTICE Worked Problems 7.1, 7.2, and 7.3 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter7/worked_problems.html Textbook Website Quiz: Chapter 7 ALL at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter7/quiz.html End-of-Chapter Questions # 1, 3-11; Problems # 1   Unit 3 - Product Markets: Decision Making and Efficiency Chapters 8 and 9 - Pure Competition in the Short Run and the Long Run CHAPTERS 8 AND 9 FOR PRACTICE Study Guide – Chapter 9 Multiple Choice: # ALL Problems: # 1 (ignore the "quantity supplied column in the table), 2 Worked Problems 8.1, 8.2, 8.3 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter8/worked_problems.html Textbook Website Quizzes: Chapter 8: ALL at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter8/quiz.html Chapter 9: # 1-5, 7, 9, 10 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter9/quiz.html End-of-Chapter Questions and Problems: Chapter 8: Questions # 1-7; Problem # 4 Chapter 9: Questions # 1, 3, 5, 6, 7, 9; Problems # 2 (skip the last question)   Chapter 10 AND 18 - Pure Monopoly and Regulation CHAPTERS 10 AND 18 FOR PRACTICE Worked Problems # 10.1 and 10.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter10/worked_problems.html Textbook Website Quizzes at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter10/quiz.html Chapter 10: ALL Chapter 18: # 4, 5, 8 , 9, 10 [What is wrong with question #8?] End-of-Chapter Questions and Problems: Chapter 10: Questions 2-9; Problems 1, 2 Chapter 18: Questions # 1, 5, 10, 12, 13; Problems # 2   Chapter 11 - Monopolistic Competition and Oligopoly CHAPTER 11 FOR PRACTICE Worked Problem 11.1 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter11/worked_problems.html Textbook Website Quiz: Chapter 11 # 1-5, 7-10 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter11/quiz.html End-of-Chapter Questions and Problems: Questions # 1, 2, 6, 7, 9, 10: Problems # 1 Unit 4 - Resource Markets: Decision Making, Efficiency, and Equity Chapter 12 - The Demand for Resources CHAPTER 12 FOR PRACTICE Worked Problems 12.1 and 12.2 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter12/worked_problems.html Textbook Website Quiz: Chapter 12 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter12/quiz.html End-of-Chapter Questions and Problems: Questions 12-2, 12-4, 12-5, 12-6  Chapter 13 - Wage Determination (Appendix: Labor Unions) CHAPTER 13 FOR PRACTICE Worked Problem 13.1 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter13/worked_problems.html Textbook Website Quiz: Chapter 13 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter13/quiz.html End-of-Chapter Questions and Problems: Questions 13-3, 13-5, Problems 13-2, 13-3 Chapter 20 - Income Inequality, Poverty, and Discrimination  CHAPTER 20 FOR PRACTICE Worked Problem 20.1 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter20/worked_problems.html Textbook Website Quiz: Chapter 20 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter20/quiz.html End-of-Chapter Questions and Problems: Questions 20-2, 20-5, 20-10, 20-12, 20-14 Chapter 22 - Immigration CHAPTER 22 FOR PRACTICE Textbook Website Quiz: Chapter 22 at http://highered.mcgraw-hill.com/sites/0077337735/student_view0/chapter22/quiz.html End-of-Chapter Questions and Problems: Questions #22-2, 22-4, 22-5, 22-9