Managerial Economics Final Study Guide
1. Chapter 1: Introduction
a. Economic Profit generated by the actions of managers
b. Principal-Agent Problem separation of management & ownership in firms in firms,
managers may choose to further their own interests
Managerial Economics Test 3 Study Guide
1. Chapter 7: Perfect Competition
a. Characterized by managers having no market/pricing power, firms are price takers in this
environment
i. Demand curve for any single firm is essentially horizontal
ii. In the long
Review of Cost Concepts
Review of Cost Concepts
C (y ) = minimal expenditure required to produce output y .
Two components: fixed costs F , and variable costs V (y ).
C (y ) = F + V (y )
I
Fixed costs do not vary with output.
I
Variable costs increase wit
SYLLABUS FOR INDUSTRIAL ORGANIZATION (ECON40580)
Spring 2017
Prof. Jeff Thurk
919 Flanner Hall
Phone 574-631-3083
email: jthurk@nd.edu
Office Hours: Tuesdays 2-5 and by appointment
Meetings
MW 2:00-3:15, DeBartolo 210
Optional Texts
Industrial Organizatio
ECON 40580
Thurk
Answers for the Math Review (Due Jan 17, 2013)
Directions: Complete the problems presented below.1 Work on this review by yourself.
1. Solve the following system of equations:
9y 4x = 14
2x + 3y = 15
Answer:
Solve for x in the second equa
ECON 40580
Thurk
Math Review
Directions: Complete the problems presented below.1 Work on this review by yourself.
1. Solve the following system of equations:
9y 4x = 14
2x + 3y = 15
2. Solve the following system of equations for x and y:
a1 x + a2 y = a3
Lecture 2: Regulation of a Monopoly
January 22, 2013
1
Monopoly
The objectives of this lecture are to describe: (1) the simple of model of monopoly pricing for
a perishable good and rationale for regulation, (2) methods of regulation when the regulator
kn
Lecture 1: Preliminaries
January 22, 2013
The purpose of this lecture is to review some basic concepts of microeconomics that we will be using
throughout the course.
1
Review of Cost Concepts
In the following discussions the rms technologies as well as th
Transition economy make a complete transition or midterm.
- institution is different from US, we should be aware of incorporate model into model.
-the way policy made legal system. What can be done.
Background GDP growth rate
Social economic in China sti
Mao Zedong
Done by:
Rayson Khoo
Neo Jiahao
Tan Wei Ren
Zhang Siyuan
Table of contents
Definition of leadership
Biography of Mao Zedong
Maos Rise to power
Significant Events
Leadership Style
Judging of effectiveness
Our Definition of
leadership
A le
PhD Topics in Macroeconomics
Lecture 10: misallocation, part two
Chris Edmond
2nd Semester 2014
1
This lecture
Hsieh/Klenow (2009) quantification of misallocation
1- Inferring misallocation from measured gaps in marginal products
ecient benchmark
aggreg
Liquidity Constraints, Transition Dynamics, and the
Chinese Housing Return Premium
Yu Zhang*
Job Market Paper. Please download the latest version here
Princeton University
January 3, 2017
Abstract
Home price movements received increasing academic and publ
The Great Leap Forward: Anatomy of a Central Planning Disaster
Author(s): WeiLi and DennisTaoYang
Source: Journal of Political Economy, Vol. 113, No. 4 (August 2005), pp. 840-877
Published by: The University of Chicago Press
Stable URL: http:/www.jstor.or
Economics 43750
The Chinese Economy
DBRT 214
MW: 2:00-3:15
Professor Nelson Mark
Office: 922 Flanner
Hours: M,W, 9:00-10:30 and by appt.
Email: nmark@nd.edu
Web: www.nd.edu/~nmark
Chinas economy is in transition. The transition has achieved the biggest ec
COVER SHEET ECON 30020-03
I hereby certify that I was actively involved in solving this problem set with the group of
students specified below.
Student
Printed Name
Signature
Date
1
2
3
4
5
As a member of the Notre Dame community, I will not participate i
OwnPriceElasticityofDemand:ameasureoftheresponsivenessofconsumerstoachangeinprice(ALWAYSnegative,
exceptforabsolutevalue)
o
If
o
If
o
If
o
Whatcanthefirmdo?Changethepricing
IncomeElasticityofDemand:ameasureofconsumersresponsivenesstochangesinincome
o
QD
Rival in consumption: if more than one person cannot use the same unit of the good at the same time
Excludable: if the supplier of that good can present people who do not pay for using it
Tragedy of the commons: the tendency for a nonexcludable resource t
Production Possibilities Frontier: a diagram showing the goals a country can produce given its resources
Consumption Possibilities Frontier: A diagram showing the goods a country can consume if they specialize in free trade
Profit: total revenue minus tot
Cognitive biases: a systematic error in thinking and judgment (predictable)
Behavioral economics: a study of decision-making that relaxes assumptions of rationality
traditionally used in economics, using insights from psychology
Anchoring: relying too hea
Monopoly
Monopoly and perfect
competition.
Profit maximization
by a monopolist.
Inefficiency of a
monopoly.
Why do monopolies
occur?
Natural Monopolies.
Monopoly and Perfect
Competition
Perfect competition: each firm takes
market price as given and decide
4.7 Write and Apply Exponential &
Power Functions
p. 509
How do you write an exponential function
given two points?
Just like 2 points determine a
line, 2 points determine an
exponential curve.
An Exponential Function is in
the form of y=abx
Write an Expo
1
DO NOT OPEN THIS TEST BOOKLET UNTIL YOU ARE
INSTRUCTED TO BEGIN
Econ 30010
Intermediate Microeconomic Theory
Midterm 1, Spring 2014
Instructions:
1) You may use a pen or pencil, a hand-held nonprogrammable, non-graphing calculator, and a
ruler or straig
Econ 30010
Intermediate Microeconomic Theory
Risk Summary and Outline
So far we have studied how prices, income, and preferences affect consumer choices.
This analysis assumed that we know the outcome of all our decisions with certainty. In reality,
the o
Econ 30010
Intermediate Microeconomic Theory
Additional Cost Problems
Production Functions to be used in the following problems.
A. q = 50 L1/4 K1/5
B. q = KL+L2
C. q = 75LK
D. q = 30L1/3 K2/3
E. q = 4L + 3K
1. Cost Minimization
Find the cost minimizing i
Econ 30010
Intermediate Microeconomic Theory
Consumer Behavior Summary and Outline
This topic will focus on how prices, income, and tastes and preferences influence how
much a consumer spends on each available product and service. The analysis will not on
Econ 30100
Intermediate Microeconomic Theory
Additional Consumer Choice Problems
1. A consumer's utility over bundles consisting of goods 1 and 2 is U (q1 , q2 ) 4 q1 q2 .
a. For this utility function, derive the formula for each marginal utility and for
PROBLEM SET #3
MACROECONOMICS
DR. MICHAEL GREENE
CARLOS GARCIA
8AM
Instructions: This brief problem set is designed to assess your basic grasp of GDP and inflation. You must
complete each question and, upon completion, email your finished work to: mgreene
Carlos Garcia
Professor Wright
Professor Wright
August 30, 2015
Case Brief #1
1. Case Name, Citation, Court
Seal-Polymer Industries-BHD v. Med-Express, Inc., USA 218 N.C. App. 447 (2012)
2. Key Facts
A. On 11 December 2009, plaintiff, Seal Polymer, filed