TUGAS KELOMPOK PIE MIKRO

Petunjuk Pengerjaan:

1. Mahasiswa akan dibagi menjadi 6 kelompok (kelompok sesuai nomor

absensi), masing-masing kelompok mendapatkan 1 chapter

2. Pembagian Chapter:

• Kelompok 1: Chapter 12 - General Equilibrium and the Efficiency of

Perfect Competition
• Kelompok 2: Chapter 13 - Monopoly and Antitrust Policy
• Kelompok 3: Chapter 14 - Oligopoly
• Kelompok 4: Chapter 15 - Monopolistic Competition
• Kelompok 5: Chapter 16 - Externalities, Public Goods, and Common
Resources
• Kelompok 6: Chapter 17 - Uncertainty and Asymmetric Information

3. Setiap kelompok wajib menjawab:

• 10 soal Multiple-Choice
• 5 soal True/False
• 5 soal Essay
• Format jawaban:

‐ Tulis jawaban pada dokumen Word (nama file:

KelompokX_ChapterY.docx).
‐ Cantumkan nama anggota kelompok di bagian awal dokumen.
‐ Jawaban essay diisi dengan argumen yang jelas dan mendalam.

4. Waktu Pengumpulan:

• Tugas dikumpulkan paling lambat hari ini, pukul 16.00 WIB.

• Kirimkan file ke email ke [email protected]

Penilaian:
Tugas ini dinilai berdasarkan kelengkapan jawaban, kejelasan argumen, serta
kerjasama kelompok. Kerjakan dengan baik sebagai bentuk tanggung jawab
kelompok.

Selamat mengerjakan!

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Economics Questions for Chapters 12 to 17

Chapter 12: General Equilibrium and the Efficiency of Perfect Competition

Multiple Choice Questions

1. What is general equilibrium in economics?
a) A situation where only supply equals demand in one market
b) A situation where all markets are in simultaneous equilibrium
c) A condition where profits are maximized
d) None of the above
2. Which of the following is an example of allocative efficiency?
a) Equal distribution of income
b) Producing goods based on consumer preference
c) Minimizing production costs
d) None of the above
3. Pareto efficiency means:
a) Allocating resources to maximize one individual's utility
b) No further reallocation can make someone better off without making another worse off
c) A state of equal income distribution
d) None of the above
4. A partial equilibrium analysis focuses on:
a) One isolated market
b) The entire economic system
c) Equity in resource allocation
d) Government policies
5. Which is NOT a source of market failure discussed in Chapter 12?
a) Externalities
b) Market power
c) Public goods
d) Increasing returns to scale
6. An increase in demand in one market leading to effects in other markets is an example of:
a) General equilibrium
b) Partial equilibrium
c) Allocative efficiency
d) Inefficiency
7. What is the main goal of positive economics as discussed in the chapter?
a) To make value judgments
b) To predict and explain economic behavior without value judgments

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 c) To regulate markets
d) To enforce equity
8. Competitive equilibrium ensures that:
a) Prices are below marginal costs
b) There are no externalities
c) Resources are allocated efficiently
d) Government intervention is unnecessary
9. The efficiency criterion in economics focuses on:
a) Maximizing well-being with given resources
b) Distributing wealth equally
c) Maintaining price stability
d) Increasing market share
10. In an increasing-cost industry, expansion typically leads to:
a) Lower resource costs
b) Higher resource costs
c) Decreased demand
d) None of the above

True/False Questions
1. General equilibrium exists when all markets in an economy are in simultaneous
equilibrium. (True/False)
2. Allocative efficiency requires that resources are distributed equally among individuals.
(True/False)
3. Externalities are a source of market failure. (True/False)
4. Partial equilibrium analysis considers adjustments across all markets. (True/False)
5. Perfectly competitive markets always achieve general equilibrium. (True/False)

Essay Questions
1. Explain the concept of general equilibrium and how it differs from partial equilibrium.
2. Discuss the significance of Pareto efficiency in resource allocation.
3. Analyze the sources of market failure and their implications for economic efficiency.
4. How do shifts in demand in one market impact other markets in the context of general
equilibrium?
5. Evaluate the role of government in addressing inefficiencies caused by market failures.

Chapter 13: Monopoly and Antitrust Policy

Multiple Choice Questions

1. What is a defining feature of a monopoly?
a) Many firms producing identical products

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 b) A single firm with no close substitutes
c) Firms with differentiated products
d) None of the above
2. Price discrimination requires:
a) Identical costs for all customers
b) Market segmentation and no resale
c) No barriers to entry
d) Perfect competition
3. Antitrust laws aim to:
a) Increase profits for monopolies
b) Foster competition in the market
c) Eliminate government intervention
d) Set prices in oligopolies
4. Which act was the first antitrust legislation in the United States?
a) Sherman Act
b) Clayton Act
c) Robinson-Patman Act
d) Federal Trade Commission Act
5. Deadweight loss in monopoly is caused by:
a) Excessive competition
b) Pricing below marginal cost
c) Reduced quantity and higher price compared to perfect competition
d) Government intervention
6. Rent-seeking behavior in monopolistic markets refers to:
a) Reducing costs to maximize efficiency
b) Spending resources to maintain market power
c) Generating additional consumer surplus
d) Perfectly competitive outcomes
7. Perfect price discrimination results in:
a) Lower profits for monopolists
b) Elimination of deadweight loss
c) Increased competition
d) Decreased consumer surplus
8. Which of the following is an example of natural monopoly?
a) Fast food industry
b) Local water supply company
c) Retail clothing stores
d) Agriculture markets
9. The Clayton Act addressed:
a) Monopolistic pricing only

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 b) Anti-competitive mergers and practices
c) Government subsidies for monopolies
d) Price discrimination in labor markets
10. Market efficiency in a monopoly is typically:
a) Higher than perfect competition
b) Lower due to reduced output and higher prices
c) Equal to monopolistic competition
d) Unaffected by barriers to entry

True/False Questions
1. Monopolies always result in efficient resource allocation. (True/False)
2. Price discrimination can increase a monopolist's profits. (True/False)
3. The Sherman Act was passed in 1890 to limit monopolistic practices. (True/False)
4. Perfect price discrimination eliminates deadweight loss. (True/False)
5. Rent-seeking behavior can increase social welfare. (True/False)

Essay Questions
1. Explain the economic inefficiencies associated with monopolies.
2. Discuss the role of antitrust policies in regulating monopolistic behavior.
3. Evaluate the impact of price discrimination on consumer and producer surplus.
4. How do barriers to entry affect the existence and sustainability of monopolies?
5. Describe and provide examples of rent-seeking behavior in monopolistic markets.

Chapter 14: Oligopoly

Multiple Choice Questions

1. What defines an oligopoly market structure?
a) A single seller dominates the market
b) Few sellers with interdependent decisions
c) Numerous sellers producing differentiated goods
d) Perfect competition
2. The Cournot model assumes that firms:
a) Cooperate to maximize joint profits
b) Choose quantities simultaneously and independently
c) Set prices independently of competitors
d) Maximize profits by colluding
3. Which of the following is a feature of the kinked-demand curve model?
a) Firms have stable prices due to demand elasticity differences
b) Price wars dominate market outcomes

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 c) Barriers to entry are eliminated
d) All firms maximize joint profits
4. In game theory, a Nash equilibrium occurs when:
a) Firms have no incentive to change their strategies
b) Firms maximize profits by colluding
c) Price equals marginal cost
d) Demand equals supply
5. A collusion model in oligopoly often results in:
a) Perfect competition
b) Monopolistic pricing
c) Maximized consumer surplus
d) None of the above
6. Price leadership in oligopoly markets implies:
a) One dominant firm sets the price while others follow
b) All firms simultaneously set identical prices
c) Firms engage in cutthroat price competition
d) Government regulates all pricing strategies
7. An example of an oligopoly industry is:
a) The global automobile market
b) Local farming markets
c) Street food vendors
d) A single electricity supplier
8. The concept of mutual interdependence in oligopolies means:
a) Firms act independently
b) The actions of one firm affect others significantly
c) Collusion is the only strategy for survival
d) Firms ignore competitors' pricing strategies
9. The Herfindahl-Hirschman Index (HHI) is used to:
a) Measure the level of competition in a market
b) Determine consumer preferences
c) Set government policies
d) Calculate marginal costs
10. The term 'cartel' in an oligopoly refers to:
a) A group of firms acting independently
b) A formal agreement to coordinate pricing or output
c) Firms that focus on monopolistic competition
d) None of the above

True/False Questions
1. In an oligopoly, firms are interdependent. (True/False)

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2. Collusion in an oligopoly is illegal in many countries. (True/False)
3. The kinked-demand curve explains why prices are often rigid in oligopolies. (True/False)
4. Price wars are a common feature of oligopoly markets. (True/False)
5. The Herfindahl-Hirschman Index is used to measure market concentration. (True/False)

Essay Questions
1. Explain the concept of mutual interdependence in oligopolies and how it influences firm
behavior.
2. Discuss the various models of oligopoly, such as Cournot, Bertrand, and kinked-demand
curve.
3. Evaluate the impact of collusion on consumer welfare and market efficiency.
4. How does game theory apply to decision-making in oligopoly markets? Provide examples.
5. Analyze the role of government in regulating oligopoly markets to prevent anti-
competitive behavior.

Chapter 15: Monopolistic Competition

Multiple Choice Questions

1. A key characteristic of monopolistic competition is:
a) Homogeneous products
b) Few sellers with identical products
c) Product differentiation
d) A single seller dominates the market
2. In the short run, a monopolistically competitive firm maximizes profit by producing
where:
a) Price equals marginal cost
b) Marginal cost equals marginal revenue
c) Total revenue equals total cost
d) Average cost is minimized
3. In monopolistic competition, firms can enter and exit the market:
a) Only with government approval
b) Freely, leading to zero economic profit in the long run
c) With significant barriers
d) Only when profits are maximized
4. Product differentiation in monopolistic competition often leads to:
a) Higher elasticity of demand
b) Brand loyalty and market power
c) Homogeneous pricing strategies
d) Perfect competition

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5. In the long run, a monopolistically competitive firm will produce at a point where:
a) Marginal cost exceeds marginal revenue
b) Price equals average total cost
c) Marginal revenue exceeds marginal cost
d) Price equals marginal cost
6. Which of the following is NOT a characteristic of monopolistic competition?
a) Large number of small firms
b) Differentiated products
c) Significant barriers to entry
d) Independent decision-making
7. Excess capacity in monopolistic competition refers to:
a) Producing less than the level of output that minimizes average total cost
b) Overproduction beyond market demand
c) Operating at maximum efficiency
d) Zero profits in the short run
8. Advertising in monopolistic competition is primarily used to:
a) Lower production costs
b) Differentiate products and create brand loyalty
c) Increase market competition
d) Reduce the demand elasticity
9. Monopolistic competition differs from perfect competition because:
a) Firms produce identical products
b) There are fewer firms in the market
c) Firms face downward-sloping demand curves due to product differentiation
d) Entry and exit are restricted
10. Which of the following industries is most likely an example of monopolistic
competition?
a) The oil industry
b) Fast food restaurants
c) Public utilities
d) Wheat farming

True/False Questions
1. In monopolistic competition, firms produce differentiated products. (True/False)
2. Economic profits are sustainable in monopolistic competition in the long run.
(True/False)
3. Monopolistic competition is characterized by low barriers to entry. (True/False)
4. Advertising is not an important factor in monopolistic competition. (True/False)
5. Excess capacity is a common feature of monopolistic competition. (True/False)

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Essay Questions
1. Discuss the concept of product differentiation and its significance in monopolistic
competition.
2. Explain the role of advertising in monopolistic competition and its impact on consumer
choice.
3. Analyze why firms in monopolistic competition experience zero economic profits in the
long run.
4. Compare the efficiency outcomes of monopolistic competition with those of perfect
competition.
5. Evaluate the implications of excess capacity for economic welfare in monopolistic
competition.

Chapter 16: Externalities, Public Goods, and Common Resources

Multiple Choice Questions

1. An externality occurs when:
a) A firm produces goods at the lowest cost
b) A transaction affects third parties who are not involved in the transaction
c) Prices are equal to marginal costs
d) Government intervenes in the market
2. A negative externality leads to:
a) Overproduction of a good or service
b) Underproduction of a good or service
c) Efficient resource allocation
d) A Pareto-efficient outcome
3. Which of the following is an example of a public good?
a) National defense
b) A toll road
c) A private swimming pool
d) A local coffee shop
4. The free-rider problem is associated with:
a) Public goods
b) Private goods
c) Common resources
d) Monopolistic competition
5. To internalize a negative externality, the government could:
a) Provide subsidies to producers
b) Impose a tax equal to the marginal external cost
c) Eliminate market competition
d) Provide public goods

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6. Common resources are characterized by:
a) Rivalry and excludability
b) Non-rivalry and non-excludability
c) Rivalry and non-excludability
d) Non-rivalry and excludability
7. Which of the following is NOT an example of a common resource?
a) Fisheries in international waters
b) A congested public park
c) Clean air
d) A patented invention
8. The Coase theorem suggests that:
a) Government intervention is always necessary to address externalities
b) Private bargaining can lead to efficient outcomes in the presence of externalities if
transaction costs are low
c) Externalities cannot be resolved without legal enforcement
d) Public goods are overprovided in competitive markets
9. Marginal social cost includes:
a) Only the cost of production
b) Private cost and external cost
c) Only the cost incurred by consumers
d) Subsidies and taxes
10. A Pigovian tax is designed to:
a) Increase market efficiency by subsidizing production
b) Internalize the cost of externalities
c) Reduce government revenue
d) Eliminate competition in the market

True/False Questions
1. Externalities always lead to efficient market outcomes. (True/False)
2. A positive externality occurs when third parties benefit from a transaction. (True/False)
3. Public goods are both non-rival and non-excludable. (True/False)
4. Common resources often suffer from overuse and depletion. (True/False)
5. The Coase theorem implies that private bargaining cannot address externalities.
(True/False)

Essay Questions
1. Explain the differences between positive and negative externalities, and provide
examples of each.
2. Discuss how public goods differ from private goods, including the challenges in providing
public goods.

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3. Evaluate the effectiveness of government intervention in addressing negative
externalities, such as pollution taxes or regulations.
4. Analyze the tragedy of the commons in the context of common resources, and suggest
possible solutions.
5. Describe the Coase theorem and its implications for private solutions to externalities.

Chapter 17: Uncertainty and Asymmetric Information

Multiple Choice Questions

1. Asymmetric information occurs when:
a) All parties in a transaction have equal information
b) One party has more or better information than the other
c) Both parties lack sufficient information
d) None of the above
2. Adverse selection arises when:
a) Buyers and sellers have the same information
b) Sellers know more about the quality of a product than buyers
c) Buyers know more about their willingness to pay
d) None of the above
3. Which of the following is an example of moral hazard?
a) An insured individual taking more risks because they are covered
b) A buyer paying more for a high-quality product
c) Firms colluding to set prices
d) Governments imposing taxes to reduce pollution
4. Market signaling helps reduce problems of:
a) Perfect information
b) Asymmetric information
c) Moral hazard
d) Excess supply
5. The concept of expected utility is used to:
a) Measure risk aversion
b) Compare market prices
c) Predict consumer demand
d) Determine production costs
6. Which of the following is an example of a market signal?
a) A job applicant's educational qualifications
b) Government subsidies for goods
c) Rising unemployment rates
d) Changes in interest rates

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7. In insurance markets, adverse selection occurs when:
a) Only high-risk individuals buy insurance
b) Low-risk individuals are overinsured
c) Insurance companies have perfect information
d) Premiums are too low
8. The principal-agent problem arises because:
a) Agents always act in the best interest of principals
b) Agents have incentives that may differ from those of principals
c) Principals lack the ability to monitor agents
d) Both b and c
9. Moral hazard can be mitigated by:
a) Providing complete information to all parties
b) Aligning incentives between agents and principals
c) Reducing insurance coverage
d) Increasing government regulation
10. Risk-averse individuals prefer:
a) High-risk, high-return investments
b) Certainty over uncertainty, even at lower returns
c) Investing without any prior information
d) Gambling over stable income

True/False Questions
1. Asymmetric information can lead to market failure. (True/False)
2. Adverse selection is a problem that arises after a transaction is completed. (True/False)
3. Moral hazard occurs when insured individuals change their behavior due to insurance
coverage. (True/False)
4. Market signaling can reduce the effects of asymmetric information. (True/False)
5. Risk-averse individuals are indifferent between certain and uncertain outcomes with
equal expected returns. (True/False)

Essay Questions
1. Discuss the concept of asymmetric information and its impact on market efficiency.
2. Explain the adverse selection problem with an example, such as in the insurance market.
3. Analyze the moral hazard issue and suggest ways to mitigate its effects in financial
markets.
4. How does market signaling help overcome information asymmetries? Provide examples.
5. Evaluate the principal-agent problem and its implications for business and economic
policies.

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