Lecture 6: Additional Problems & Examples - SOLUTIONS
1) Predatory pricing 2) Limit pricing 3) Investment (in capacity, R&D &/or advertising) 4) Raising rivals costs
Problem #1 (Cartel duopoly)
Suppose there two firms making an identical product with a ma

Lecture 6: Additional Problems & Examples
1) Predatory pricing 2) Limit pricing 3) Investment (in capacity, R&D &/or advertising) 4) Raising rivals costs
Problem #1 (Cartel duopoly)
Suppose there two firms making an identical product with a market demand

ECMC41: Imperfect Competition (Oligopoly) - Some Examples
Oligopoly refers competition amongst the few. So we are investigating a situation where a small number of firms are competing in a market. Not only is the number of these firms limited it but we of

C41 - WEEK #2 (Ch3 & Ch4) SOLUTIONS
Review the list of important concepts listed at the end of the lecture slides to make sure you recall what these things mean and how to compute them. - Own price elasticity of demand - Cross price elasticity of demand -

C41 - WEEK #2 (Ch3 & Ch4) Recommended Problems
Review the list of important concepts listed at the end of the lecture slides to make sure you recall what these things mean and how to compute them. - Own price elasticity of demand - Cross price elasticity

ECMC41: Monopoly - Some Price Discrimination Examples
Suppose your firm is the only supplier of a product with no close substitute (i.e. you are a monopolist). For simplicity we will assume for now that your firm can produce any level of output with a con

ECMC41- WEEK #1 (Ch2) SOLUTIONS
Textbook questions Ch2: 1, 3, 5 & 7 Solutions to odd numbered textbook problems appear at the end of the book. Q1. Distinguish between returns to a variable factor of production (input), and returns to scale.
Returns to a (

ECMC41 - WEEK #1 (Ch2) Recommended Problems
Textbook questions Ch2: 1, 3, 5 & 7 Q1. Q2. Distinguish between returns to a variable factor of production (input), and returns to scale. Explain why a firms short-run average cost function may be Ushaped. Expla