Unit6_Chapter11_Hirschey_Lecture

Unit6_Chapter11_Hirschey_Lecture - FUNDAMENTALS OF...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
    FUNDAMENTALS OF FUNDAMENTALS OF MANAGERIAL MANAGERIAL ECONOMICS ECONOMICS 8 8 th th Edition Edition By By Mark Hirschey Mark Hirschey
Background image of page 1

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

View Full DocumentRight Arrow Icon
    Performance and Strategy Performance and Strategy in Competitive Markets in Competitive Markets Chapter 11 Chapter 11
Background image of page 2
    Chapter 11 Chapter 11 OVERVIEW OVERVIEW Competitive Market Efficiency Market Failure Role for Government Subsidy and Tax Policy Tax Incidence and Burden Price Controls Business Profit Rates Market Structure and Profit Rates Competitive Market Strategy
Background image of page 3

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

View Full DocumentRight Arrow Icon
    Chapter 11 Chapter 11 KEY CONCEPTS KEY CONCEPTS welfare economics social welfare producer surplus deadweight loss problem welfare loss triangle market power market failure failure by market structure externalities failure by incentive economic efficiency economic regulation social equity consumer sovereignty limit concentration subsidy policy tradable emission permits deadweight  loss of taxation tax incidence tax burden price floor price ceiling return on stockholders’ equity (ROE) profit margin total asset turnover leverage reversion to the mean disequilibrium profits disequilibrium losses economic luck competitive strategy economic rents
Background image of page 4
  Competitive Market Efficiency Why is it called Perfect Competition? Competitive markets balance supply and 
Background image of page 5

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

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 25

Unit6_Chapter11_Hirschey_Lecture - FUNDAMENTALS OF...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online