Practice: Microeconomics
Twenty-five scored problems on supply and demand, elasticity and tax incidence, opportunity cost and marginal decisions, market concentration, game theory, pricing power, platforms, costs and break-even, externalities, and asymmetric information.
What you'll do
This set works through the Microeconomics module. You'll measure elasticity and its effect on revenue, split a tax between buyers and sellers, set a margin from the elasticity a firm faces, find economic profit, make a decision at the margin, compute a market's HHI and the effect of a merger, read a payoff table, split revenue growth into price and volume, value a platform's customers, find a break-even volume, price a permit market, and spot adverse selection and moral hazard. Each answer comes with the working, and your score appears as you go. Nothing is recorded outside this browser.
This draws on
Work through the problems in order and check each answer once you've committed to it. The score counts your first try. All the companies and figures here are hypothetical.
The problems in this practice set are for members
Inside, each with a worked answer: Supply, demand, and elasticity (6 problems); Opportunity cost and the margin (3 problems); Market structure and strategy (5 problems); Platforms and costs (5 problems); Externalities and information (6 problems).
Membership opens every lesson in the curriculum, the capstone projects, the interactive tools, and the members-only channels in the Hyperion Entities Discord. The first lesson of every module stays free.