Discussion Post
We have really covered a lot of subjects. We would love to hear what your take away is:
o for those things you think you will use the most;
o what you found most interesting; and
o what you never knew before.
Looking back here is the list.
• Use the rational-actor paradigm, identify problems, and then fix them.
• Use benefit-cost analysis to evaluate decisions.
• Use marginal analysis to make extent (how much) decisions.
• Make profitable investment and shut-down decisions.
• Set optimal prices and price discriminate.
• Predict industry-level changes using demand and supply analysis.
• Understand the long-run forces that erode profitability.
• Develop long-run strategies to increase firm value.
• Predict how your own actions will influence other people's actions.
• Bargain effectively.
• Make decisions in uncertain environments.
• Solve the problems caused by moral hazard and adverse selection.
• Motivate employees to work in the firm's best interests.
• Motivate divisions to work in the best interests of the parent company.
• Manage vertical relationships with upstream suppliers or downstream customers.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.