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FRQ topics - Microeconomics
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| Year and form (A or B) | FRQ #1 topic | FRQ #2 topic | FRQ #3 topic |
| 2010 A | Perfect Competition, elasticity, related goods' prices, determinants of demand, | Resource markets, derived demand, MRP=MRC, | Consumer and Producer surplus, negative exernalities, MSB=MSC, excise tax |
| 2010 B | Natural Monopoly, allocative efficiency, accounting profit vs economic profit, elasticity and the TR test, effects of increased competition in a monopolistic market | Labor market, MRP=MRC, Law of Diminishing Marginal Returns, derived demand | PED, PES, Excise tax and tax burden, YED |
| 2009 B | Monopolistic Competition, MR=MC, shut-down rule, long-run equilibrium in imperfect competition, economies of scale | Utility Maximization, XED, income and substitution effects | Oligopoly, game theory, payoff matrix, dominant strategy, subsidy |
| 2008 A | Perfect Competition, subsidy, long-run equilibrium, MR=MC | Utility maximization, PED, excise tax | Price ceiling, natural monopoly, allocative efficiency |
| 2008 B | Natural Monopoly, MR=MC, Price ceiling, allocative efficiency, consumer surplus | Market failure, positive externalities, MSC/MPC, MSB/MPB. Excise tax | Diminishing returns, MRP=MRC, Resource markest |
| 2007 A | Market models, Monopoly, tax vs. subsidy | PC Labor market, MRP=MRC, productivity | Oligopoly, game theory, payoff matrixes, dominant strategy, collusion |
| 2007 B | Market models, monopolistic competition, MR=MC, elasticity, allocative efficiency | Oligopoly, game theory, payoff matrixes, dominant strategy, collusion | ATC vs. AVC, profit maximization and ATC, shutdown decision |
| 2006 A | Market Models, Monopoly, MR=MC, elasticity, subsidy | MC, profit maximization, MR=MC, impact of tax | S&D, determinants of D, subsidies, determinants of S, externalities, socially optimal level of output |
| 2006 B | Market models, Monopoly, MR=MC, shutdown decision | Perfect Competition, S&D, consumer and produce surplus, price ceiling | Labor Market, perfect competition, MRP=MRC |
| 2005 A | Market Models, MR=MC, Perfect competition, barriers to entry | S&D, compliments, elasticity, consumer surplus DWL | Labor Market, Perfect competition, MRP=MRC, Diminishing marginal returns |
| 2005 B | Market Models, MR=MC, Labor Markets, Monopoly, MRP=MRC | Market Models, MR=MC, Perfect competition, cost curves, SR supply curve | S&D, copmliments, elasticity, TR test |
| 2004 A | Market Models, externalities, Monopoly, PC, allocative efficiency | S&D, trade and tariffs, consumer/producer surplus | Market Models, MR=MC, monopolistic competition, LR changes in fixed costs |
| 2004 B | Market Models, MR=MC, monopoly, price/MR relationship, profits, elasticity | Tax incidence, S&D, elasticity | S&D, trade and tariffs, consumer/producer surplus |
| 2003 A | Market models, externalities, MR=MC, P=MC | Market Models, MR=MC, monopoly, consumer surplus and DWL | Market Models, Labor market, MRP=MRC, productivity |
| 2003 B | Market Models, MR=MC, PC/Monopoly, DWL, long-run profits | S&D, tariffs and trade, consumer/producer surplus | Labor market in perfect competition, MRP=MRC, changes in price and wages |
| 2002 A | Market Models, Labor market, PC in product and labor markets, long-run PC | Negative externalities, S&D, free riders, MSC=MSB | Marginal utility, equimarginal principal, MU/P = MU/P = 1 |
| 2002 B | Market Models, MR=MC, PC, monopolistic competition, consumer/producer surplus | Negative externalities, S&D, MSC=MSB | Labor market, MRP=MRC, S&D, derived demand, price floor |
| 2001 | Perfect competition, MR=MC, price ceiling, supply curve in PC | Negative externalities, P=MC, S&D, socially-optimal output level | Labor market, MRP=MRC, PC |
| 2000 | Market models, MR=MC, PC/Monopoly, allocative efficiency | Labor market, MRP=MRC, costs, profit | S&D, tariffs and trade, world price, substitute goods, elasticity |
| 1999 | S&D, substitute goods, derived demand | Comparative and absolute advantage, PPC, grid for comp. advantage, terms of trade | Market models, MR=MC, PC/Monopoly, relationship b/w MR and P |
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