1. Compare and contrast the four market structures. Monopoly, Perfect Competition, Oligopoly and Monopolistic Competition. Compare the different types of business organizations.
2. Discuss the use of the Kinked demand curve. When is profit maximized in the four market structures? How is Prof. Nashs Game Theory utilized in the study of Oligopoly?
3. How is income distributed in a market society? Why are some people rewarded more than others? Discuss the use of the Lorenz Curve and the Gini Coefficient. Is their merit to the idea of income redistribution? Is there merit to the idea of a guaranteed basic income?
4. Why do workers join unions? How are unions protected under Federal and state law?
Why has union membership declined in the last 25 years? How do Right to Work States keep unions from organizing?
