Author: Anonymous

Please answer ANY ten (10) of the following questions from the electives that you have COMPLETED AS A GRADUATE STUDENT AT MSU. To better organize the exam, the elective questions have been divided into two groups: Core Electives and Additional Electives. Between the two elective sections, there will be around 40-50 questions presented, but ONLY answer a total of ten (10) of these questions.  FIELD COURSE Questions – Multiple questions will be displayed for each location (Appalachia, Bahamas, Gulf Coast, Washington State) Please only answer one field course question per location for each field location attended. Example – if you attended the Bahamas and the Appalachia field courses –  you can answer one question for Bahamas and one for Appalachia form the options displayed. Example – if you only attended one field course, such as Washington State, then you would only answer one of the two question options for Washington State. 

First-degree price discrimination allows the monopolist to:

For a linear demand Q(p) = a – bp and constant marginal cost c, the ND-monopolist produces quantity q*_M = (a – bc)/2, while the competitive equilibrium quantity is q*_c = a – bc. This implies that the ND-monopolist produces:

Compare and contrast the formation of the northwest volcanoes visited, the north cascades, and the Olympic Peninsula. Is the volcanic evidence observed in eastern WA related to the western WA volcanoes – why or why not?  

The ND-monopolist’s profit maximization first-order condition (FOC) requires:

Consider a partial equilibrium economy with utility function U(m, q) = m + q^(1/3), production function f(x) = x^(1/4), and cost function C(q) = q^4. The MS at the competitive equilibrium is MS(q*_c) = (1/12)^(1/11) – (1/12)^(12/11) approximately 0.7374, and the MS at the ND-monopoly outcome is MS(q*_M) = (1/36)^(1/11) – (1/36)^(12/11) approximately 0.7198. The Deadweight Loss from ND-monopoly, DWL(q*_M) = MS(q*_c) – MS(q*_M), is approximately:

A first-degree price discriminating (1D) monopolist produces the competitive equilibrium quantity q*_eq and generates zero deadweight loss. This result holds because:

Consider a partial equilibrium economy with utility function U(m, q) = m + q^(1/3), production function f(x) = x^(1/4), and cost function C(q) = q^4, with competitive equilibrium quantity q*_c = (1/12)^(3/11) and MS(q*_c) approximately 0.7374. A first-degree price discriminating monopolist produces q*_c and charges the agent their full willingness to pay. The profit of the 1D-monopolist equals:

Consider a partial equilibrium economy with utility function U(m, q) = m + q^(1/3), production function f(x) = x^(1/4), and cost function C(q) = q^4. The ND-monopoly DWL is approximately 0.0176 (about 2.39% of MS(q*_c) approximately 0.7374), and the 1D-monopoly DWL is exactly 0. Comparing the ND-monopoly to the 1D-monopoly outcome, which of the following correctly ranks the DWL from largest to smallest across the three market structures: competitive equilibrium (CE), 1D-monopoly, and ND-monopoly?

A patient in acute left ventricular failure has a pulmonary capillary wedge pressure of 35 mmHg and their plasma colloid osmotic pressure is 28 mmHg. Which statement best describes what is happening in this patient’s lungs?