Choose any Two question answer. Make small essay for me that way I can try to have a practice.

F.1 An old nal exarri iShoose T'W'fl of the following prompts and write a persuasive essay for each. You have 2hr 15min. You will be graded on {i} how well you displayed knowledge of relevant economics and {ii} how well you constructed a wellreasoned and persuasive argument for a point of view. Good luckl 1. 11. 12. 13. There is strong evidence that people sometimes make choices as if they care about what other people get, not just what they themselves get. Is that consistent or inconsistent with how we model preferences and choice in microeconomics? It is ever possible to figure out if someone chooses in a way that's consistent with the utility maximization model? \"If you saw people's demand functions, the income effect would he much more significant than the substitution effect." Do you agree or disagree? Do we choose our job or does our job choose us? Discuss with reference to the labor supply model or other applications of the consumer choice model to issues of job choice. Thinking either of specic examples or in general, do you think that in EU years production functions will look more similar or more different to production functions today? IClan we make industries look more like the perfect competition model, or are we stuck with what we've got? Is there reason to be concerned that big firms in tech industries might inherently end up with excessive market power? How might you he able to tell if that were the case? Does the auctioneer in a general equilibrium model bear any resemblance to any realworld institutions? \"More often than not, using the market mechanism to allocate things leads to good out comes.11 Do you agree or disagree? To what extent do you think different policies to reduce carbon emissions using the tools of externality correction are fair? \"It would be easier to get consensus on what public goods to provide if there was less income inen'r'piality.11 Do you agree or disagree? 1'L'lli'hat's the point of oligopoly theory if different models have such different predictions? \"The adverse selection problem is a nice theory, but it's nothing to worry about in practice.\" Discuss, with reference to specific examples