Chap 6, Q5. What are increasing, decreasing and constant returns to scale?
Chap 7, Q4. Explain how the law of diminishing returns determine increasing marginal costs in the short run.
Chap 8, Q2. Provide your own real examples of perfect competitive and monopoly markets, and explain how these firms are price takers and price makers.
Chap 8, Q6. How a monopoly determines the optimum output level and optimum price? (Figure 8.11 may be useful)
Chap 9, Q1. Compare and differentiate the 4 basic characteristics of monopolistic competitive markets and oligopoly markets (Refer to Table 9.1)
Chap 9, Q2. Provide your own real examples of monopolistic competitive and oligopoly markets, and explain how these firms are price makers.
Chap 10, Q5. Illustrate the 3 degrees of price discrimination with your own real examples.
Chap 11, Q4. Explain the Prisoner’s Dilemma game. Is it relevant for managerial decisions?
Chap 14, Q2. Briefly explain the main purpose of the following antitrust laws: Sherman Act, Clayton Act, Federal Trade Commission Act, Robinson-Patman Act, Celler-Kefauver Act and Hart-Scott-Rodino Act.
Chap 5, Q3. What is the difference between a simple regression equation and a multiple regression equation?
Chap 5, Q6. For what are the t-test and F-test used for?
Chap 4a, Q1. Explain Price Floor and Price Ceiling with examples.
