Tuesday, December 18, 2012

Review For Mono-Comp and Oligopoly

1.  Know the characteristics of a mono-comp industry.
2.  Find the profit-maximizing price and output for a mono-comp firm.
3.  Find profit for a mono-comp firm.
4.  Find the profit maximizing point for a mono-comp firm in long run.
5.  What is the excess capacity theorem?
6.  When a mono-comp firm produces at a point where P > MC the firm is inefficient.
7.  Will a mono-comp firm ever be resource allocative efficient?
8.  Will a mono-comp firm advertise?
9.  What characteristics describe a firm in oligopoly?
10. What is the dominant strategy.
11.  Understand the mechanics of the prisoner's dilemma.
12.  What is a payoff?
13.  Identify the relevant strategies in a two player game.
14.  What is a duopoly?
15.  What is tacit collusion?
16.  Work through the notes from Monday.
17.  Understand the mechanics of the kinked demand curve.

No comments:

Post a Comment