Principles of Macroeconomics

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Additional Topics for Final Exam Econ 101, Lecture 4, Spring 2007 Professor Korinna K. Hansen In addition to all topics you prepared for Midterms 1 & 2, please prepare the following topics: Monopoly Barriers to entry Revenue curves for the Monopolist The Monopolist Equilibrium No supply curve for the Monopolist Long run versus Short run The shut down decision Monopoly versus Perfect Competition Price discrimination First-degree price discrimination (or perfect price discrimination) Third-degree price discrimination The development of Antitrust Law The Sherman Act The Clayton Act Monopolistic Competition Short run equilibrium Long run equilibrium The case for advertising and product differentiation The case against advertising and product differentiation
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Unformatted text preview: Oligopoly The Collusion model The Cournot model The Kinked demand model The Price Leadership model Game Theory Players, strategies, payoff matrix Dominant strategy Nash equilibrium Maxmin strategy Public goods Important characteristics Prices paid and quantity consumed Public versus private goods Aggregate demand for public goods Tiebout hypothesis Externalities Positive and negative In production and in consumption The negative externality model The positive externality model Coase’s Theorem Taxes Excise tax and sales tax Incidence of the tax and elasticity Dead weight loss with tax Special cases with the incidence of the tax The problem of Moral Hazard The problem of Adverse Selection...
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