Is there discrimination in the labor market?

ECO 232 PRIN MICROECON

CHAPTERS 11 – 15

DISCUSSION QUESTIONS

Chapter 11

1. Is there discrimination in the labor market?  Explain.

2. Explain why labor is the most important factor of production.

3. Why do we have wage inequality?

Chapter 12

4. Can a monopoly ever be good for society?  Explain.

5. Explain why firms in an industry spend a large amount of money on advertising.

6. Explain why regulators often raise prices.

Chapter 13

7. Is there value in putting yourself into someone else’s shoes?

    Chapter 14

8. How many firms are necessary to make a market competitive?

 Chapter 15

9. Do people exhibit a preference for immediate gratification?