Some Corrections for Experiments with Economic Principles: Microeconomics, 2nd Edition

Here are a few modifications for some of the chapters. None of these are vital, but they may prevent students from making some common mistakes when answering some of the questions.

General Notes

Part I: Competitive Markets

• Experiment 1: Supply and Demand

• Experiment 2: Shifting Supply and Demand

Part II: Market Intervention and Public Policy

• Experiment 3: Sales Taxes

• Experiment 4: Prohibition

• Experiment 5: Minimum Wages

Part III: Imperfect Markets

• Experiment 6: Externalities

• Experiment 7: Monopolies and Cartels

Part IV: Firms and Technology

• Experiment 8: Entry and Exit

• Experiment 9: Network Externalities

• Experiment 10: Measuring Productivity

• Experiment 11: Comparative Advantage

Part IV: Information, Auctions, and Bargaining

• Experiment 12: Adverse Selection

• Experiment 13: Auctions

• Experiment 14: Bargaining