Microeconomics,, 16th Canadian Edition

I. Study Exercises

1. Fill-in-the-Blank


2. Review


3. Problems


4. 12 Economic Efficiency and Public Policy
   A. Chapter Outline
   B. Learning Objectives (LO)
   C. 12.1 Productive and Allocative Efficiency


5. Productive Efficiency
   a. Productive Efficiency and the Production Possibilities Boundary


6. Allocative Efficiency
   a. Allocative Efficiency and the Production Possibilities Boundary


7. Which Market Structures Are Efficient?
   a. Perfect Competition
   b. Monopoly
   c. Monopolistic Competition and Oligopoly


8. Allocative Efficiency and Total Surplus
   a. Consumer and Producer Surplus
   b. The Allocative Efficiency of Perfect Competition Revisited
   c. The Allocative Inefficiency of Monopoly Revisited


9. Allocative Efficiency and Market Failure
   D. 12.2 Economic Regulation to Promote Efficiency


10. Regulation of Natural Monopolies
    a. Short-Run Price and Output
    a. 1. Marginal-Cost Pricing
    b. 2. Two-Part Tariff
    c. 3. Average-Cost Pricing