microecon essay
Question Description
Write a 250-500 word essay for each topic below (7 essays) based of the following criteria:
- Summary of the concept
- Thoughtful identification of key Pros (strengths) & Cons (weaknesses) of your selected concepts/laws/methods (not the pros and cons of the author(s), errata, if any, in texts; organization; and the like).
- Remedy(ies), to the best of your learning, to the cons spotted (offer sensible arguments/solutions to the cons); and,
- Linkage(s) of you selected themes, both to your current, or future, career AND your personal enrichment/development.
2. monopolistic competition
3. marginal revenue product
4. markets for natural resources
5. transaction costs
6. dutch auction
7. arbitrage
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