01 Oct Pricing & Output Decisions: Monopolistic CompetitionOligopoly)
Pricing & Output Decisions: Monopolistic CompetitionOligopoly)
Question 2:Compare and differentiate the 4 basic characteristics of monopolistic competitive markets and oligopoly markets (Refer to Table 9.1)
Question 3: Provide your own real examples of monopolistic competitive and oligopoly markets and explain how these firms are price makers.
Question 4: Chapter 11 (Game Theory and Asymmetric Information)
Do you think the Prisoner’s Dilemma game is relevant for managerial decisions?
Question 5: Chapter 10 (SpecialPricing Practices)
Illustrate the 3 degrees of price discrimination with your own real examples.
Question 6:
a).Perfect Competition is a model of which examples are few and far between. Yet economists love to discuss this model. Explain why.
b). One of the criticisms of oligopolies is the adverse impacts these firms have on income distribution. Do you believe that is a valid criticism? Discuss with appropriate examples.
Question 7: Briefly explain the main purpose of the following antitrust laws: Sherman Act, Clayton Act, Federal Trade Commission Act, Robinson-Patman Act, Celler-Kefauver Act and Hart-Scott-Rodino Act
Question 8:What is the difference between a simple regression equation and a multiple regression equation?
Question 9: For what are the t-test and F-test used for?
Question 10: Explain Price Floor and Price Ceiling with examples.
Question 11:”Forecasting is both an art and a science.” Discuss with reference to Panel Consensus and Econometric Method.
Question 12: Now that your study of Managerial Economics is concluding, name at least three economic principles which you believe will contribute to your profit-maximizing management decision making.
