{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

PAM 200 Lec 1 Final Exam_StudyGuide

PAM 200 Lec 1 Final Exam_StudyGuide - PAM 200 Lec 1 Final...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
PAM 200 Lec 1 Final Exam Information Date: Friday, December 7th, 2007 Time: 2:00 pm - 4:30 pm Room: Plant Sciences 233 EXAM TOPICS ----------- The exam will cover all the material we covered this semester. That corresponds to chapters 1 - 14; however, the emphasis will be on the material on which you have not yet been tested. Chapter specific notes: ---------------------- Chapter 12: Focus on first-degree price discrimination as it shows the maximum extent of price discrimination possible. All the other mechanisms come in because, in the real world, firms do not know the exact amount each potential buyer is willing to pay for the good. In general, price discrimination makes markets more efficient (reduces deadweight loss), increases the firm's profits and reduces the consumer surplus enjoyed by consumers with higher willingness to pay (all compared to single-price monopoly). Chapter 14: Study this chapter before Chapter 13. For the purposes of the exam, I am going to exclude the Repeated Prisoners' Dilemma and Sequential Games but those sections make for fun reading. Know how to read a game matrix, know how to check if a strategy is dominant or if it is a best response to some other strategy or neither. Know how to check for a Nash equilibrium in a simple two player, N-strategy game.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}