Economic profit is defined as total revenue
plus total costs
minus marginal costs
minus variable costs
minus total costs
minus fixed costs
1.2 / 1.2
Which of the following indicates that economies of scale have been overridden by other f
Which of the following is unique to perfect competition?
The individual firm cannot earn economic profit in the long run.
It is easy for new firms to enter the industry.
The market demand curve slopes downward.
The demand curve facing an individual firm i
Monopolists can earn positive economic profits in the long run because they are more productively
efficient than perfectly competitive firms.
0 / 1.2
If a monopolist is producing a rate of output at which market demand is inel
Which of the characteristics of perfect competition assures that economic profit will be zero in the long
Each firm is small relative to the market.
Each firm has access to perfect information.
Goods produced in the market are homogeneous.
Average revenue is
total revenue minus total cost
total revenue divided by quantity of output
total revenue divided by quantity of input
the change in total revenue divided by the change in output
the change in total revenue divided by the change in the q
PM name here>
Shows game time line
Shows game results by day
First day set up so we can get benchmark valaution
Benchmark going each day -PM does not need to do anything w
Week 1 cumulative is what all payments are based upon
Updates of this sheet will be sent with new Asset Starting point for Trading D
Initial Data is for example
ROCK CENTER FOR CORPORATE GOVERNANCE
DATE : 01/15/08
MODELS OF CORPORATE GOVERNANCE:
WHOS THE FAIREST OF THEM ALL?
In 2007, corporate governance became a well-discussed topic in the business press. Newspapers
produced detailed accounts of corp
DAVID BESANKO AND JOHANNES HRNER
Londons Congestion Charge
On February 17, 2003, the city of London put microeconomic theory into practice when it
initiated a 5 charge (about US$7.75) aimed at reducing traffic congestion in the center of the
Students should be able to:
Explain how externalities arise imperfect markets
Provide examples of positive and negative externalities
Explain how individuals and organizations take actions to mitigate their
exposure to negativ
Session 5 & 6
Generate a theoretical demand curve for most goods or services, being able to describe what
goes into a demand curve for that particular product.
Be able to explain how the demand for goods and services is important to the
Explain how economic incentives influence decisions in organizations
Explain how economic incentives influence outcomes in markets
Identify how scenarios where misaligned incentives result in
Explain the importance
Session 9 & 10
Go over test
Student Learning Objectives
Explain how incentives influence and individuals actions and effort in
organizations and in the market
Describe the principal-agent problem and how it relates to moral
Things to do. Login or Download an app called Socrative.
Things to know
Read all assigned work prior to class
We will not go over each page in book or in assigned reading.
Tests-will be in class
Georgia State University
Lecture: Covers equilibrium concepts, changes in demand and supply,
changes in equilibrium quantity through the price mechanism, and the
influence of business cycles and government policy on equilibrium in