Rachel (krazyhippie) wrote in thequestionclub,

This is an act of desperation: yes, I realize this. I'm taking a Microeconomics class and am on the verge of failing. Without it, I will not get my degree in the spring. It's required. I'm getting my master's in social work so I'm not in the economics frame of mind and the whole thing has been the most hellish experience of my life. (yes, I'm sure that makes me very fortunate!) I did so badly on the midterm that she is scrapping that grade and putting the full 70% on my final. I'm terrified. particularly because I feel even worse off than I was on the midterm. At least on that I got the essay question correct, got full credit for it, b/c I understood it ahead of time. This one I don't.

My essay question tomorrow is:

The essay topics will come from this list:

-perfect competition

-monopolistic competition

-monopoly markets

-oligopolies, duopolies, and strategic behavior (game theory)

-the cost structure in production processes

In each case be prepared to describe the market, the typical outcomes in terms of equilibrium price and quantity, the underlying assumptions about behavior, profit-maximizing behavior in that market, and the impact on society as a whole of these types of markets.

Anyone here economics-minded who has some input right off the bat? If not, do you know where I could find out? My notes and textbook are proving to be fairly useless. I would appreciate ANY help greatly.
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