1. Clearly and briefly articulate and explain one economic argument against monopoly power.

2. Clearly and briefly articulate and explain one economic argument used against the rent control law.

3. Define consumer surplus and give an example of it.

4. Clearly and briefly articulate and explain 1 argument used against the minimum wage law.

5. Clearly and briefly articulate and explain 1 argument used in defense of the minimum wage law.

6. Briefly and clearly describe one advantage and one disadvantage of division of labor.

7. What is the opportunity cost of taking an economics test?