1. List five different items that you would use in setting a pricing strategy for product
2. What is at the heart of a successful customer service approach for a business
3. List and define four types of mergers
4. What are the major competitive forces that define the market structure for an industry ?
5. Graph the demand curve, marginal revenue curve, marginal cost curve, and average total cost curve for a firm in monopolistic competition in the long run. Show equilibrium price, quantity, and economic profit, if any.
6. Graph the demand curves for perfect competition, monopoly, oligopoly, and monopolistic competition.
7. Graph one way to depict the impact of advertising on a firm and explain.
8. State and define the three theories of why profits occur.
9. Compare and contrast Schumpeterian rivalry versus oligopoly.
10. Why does an oligopolist always end up operating at the kink in the demand curve?
11. Definitions
a. Generic product
b. Clayton Act
c. Economic cost
d. Profit
e. Union
f. Yellow dog contract
g. Sherman Act
h. Price discrimination
i. Monopsony
k. Robinson-Patman Act
l. Monopolistic Competition
m. Degree of Monopoly Power
12. Show the impact that the program of acreage allotment has on the equilibrium price and quantity for agricultural products compared to normal demand and supply.
13. List five barriers to entry that can keep a firm out of a particular market or market segment.
14. (Bonus) Show all relevant revenue and cost curves for a regulated monopoly