1. In a job interview, the interviewers ask regarding a price searcher (taker) market, shares that the firms will be able to choose their price.What would be the entry barrier?High or low?Why?
2. Given that you are interviewing for a job with the Connect Company, the interviewer asks you the following questions:what are the two key factors that determine the strength of demand?How would you determine whether a good is in high demand or low demand?
3. The interviewer shares, the fact is that some people will work hard to earn a lot of money while others will be content with much less income, what does this indicate to you?
4. In a job interview, the controller asks you to explain the long-run relationship between real hourly earnings and productivity.What would be your reply?
5. The interviewer asks, what do you think is the most important if a worker is going to achieve higher earnings?
6. As a business consultant, how would you explain to your client what determines the economic rent for land?
7. The interviewer asks regarding the net present value of $3,000 to be received in the future, what do you think would happen to the present value (PV) if the interest rose?
8. Given that you are a newly hired government agent and you are speaking to an audience of business people, using economics terms, concepts, and or methods, how would you describe the importance and major features of the Sherman Act of 1890?
9. Using economics concepts, how would you explain "tying agreements?"

Using economics concepts, how would you explain "price fixing?:

Using economics concepts, how would you describea conglomerate??

10. Regarding the Lorenz curve and you are waiting for the state's demographers office, how would you (1) describe and explain a Lorenz curve and (2) how would you describe and explain how a Lorenz curve is constructed?