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managerial economics
Managerial Economics Problem Solving In A Digital World 1st Edition Nick Wilkinson - Solutions
To examine repeated games and how their nature leads to different solutions from one-shot games.
To examine games with uncertain outcomes and explain different approaches to their solution.
To discuss the concept of credibility and the factors which determine it.
To explain the importance of strategic moves and commitment.
To explain the solution of dynamic games using the backward induction method.
To explain the relationships between static and dynamic games.
To examine the concepts of Cournot and Bertrand competition.
To examine the various concepts of equilibrium in terms of strategies.
To explain the characteristics of different types of games and show how differences in these characteristics affect the behaviour of firms.
To define and explain the significance of strategic behaviour.
To emphasize the importance of oligopolistic markets, and examine the particular problems relating to their analysis.
To examine some welfare implications regarding different forms of market.
To give examples of different industries where different market conditions exist, explaining their prevalence.
To explain the types and significance of entry and exit barriers.
To explain the equilibrium conditions for different types of market in terms of price and output, both in graphical and algebraic terms.
To examine the relationships between structure, conduct and performance.
To describe the characteristics of the different types of market.
To explain the concept of market structure and its significance.
To define and explain the meaning of markets.
To examine and interpret the findings of various empirical studies.
To explain the specification and estimation of the learning curve.
To describe and interpret the different types of cost function in mathematical terms.
To explain how these problems can be overcome.
To explain how these problems apply in different ways to short-run and long-run situations.
To explain the types of problem which are encountered in statistical cost estimation.
To describe the different types of empirical study which are used in cost estimation.
To explain the different methods of cost estimation and their relative advantages and disadvantages.
To explain the importance of cost estimation for managerial decision-making.
To describe a problem-solving approach for applying cost–volume–profit analysis.
To explain the purpose and principles of cost–volume–profit analysis.
To explain how cost relationships can be derived in mathematical terms.
To explain cost behaviour in the long run.
To explain cost behaviour in the short run.
To explain how production relationships underlie cost relationships.
To show how different concepts of cost are relevant for managerial decisionmaking.
To explain the meaning and use of different concepts of cost.
To enable students to apply the relevant concepts to solving managerial problems.
To describe and explain relationships between total, average and marginal product, and the different stages of production.
To explain the concept of returns to scale and its relationship to production functions and empirical studies.
To describe different forms of production function and their implications.
To explain the parallels between production theory and consumer theory.
To explain how an optimal combination of inputs can be determined in both short-run and long-run situations.
To explain isoquant analysis and its applications in both short-run and long-run situations.
To explain the concept of an input-output table and its applications to different time frames and to isoquants.
To explain the different concepts of efficiency.
To describe the different factors of production and explain the concept of the production function.
To explain the meaning and significance of different time frames.
To introduce the concept of production and explain its relevance to managerial decision-making.
To explain a problem-solving approach that enables students to use empirical studies as an aid to managerial decision-making.
To enable students to performempirical studies and test economic theories.
To examine the implications of empirical studies in terms of economic theory.
To explain the multiple regression model and its advantages compared to simple regression.
To describe forecasting methods.
To explain different mathematical forms of the regression model.
To explain and interpret measures of goodness of fit.
To explain the OLS regression model.
To illustrate the principles in drawing graphs of empirical data.
To explain the nature of empirical studies.
To examine different methods of demand estimation.
To explain the meaning of demand estimation.
To explain the uses and applications of different elasticities.
To examine the factors determining different elasticities.
To explain the different ways of measuring elasticity.
To explain the concept of elasticity and different elasticities of demand.
To distinguish between changes in demand and quantity demanded.
To examine the ways in which the above factors affect demand.
To identify the factors that affect demand.
To explain why the demand curve is downward-sloping.
To interpret demand equations.
To explain the meaning of demand and how it can be represented.
To summarize the strengths and weaknesses of the profit-maximizing model in comparison with other models.
To consider multiproduct firms and the implications for objectives.
To consider the implications of risk and uncertainty as far as objectives are concerned.
To consider the nature of the shareholder-wealth profit-maximizing model and its limitations.
To consider the problems associated with the measurement of profit, and the implications for objectives.
To consider the nature of the agency problem in terms of how it affects firms’ objectives.
To explain the limitations of the basic profit-maximizing model.
To describe the various assumptions which frequently underlie the profitmaximizing model and explain why they are made.
To introduce the concept of the profit-maximizing model.
To explain the nature of transaction costs.
To compare the advantages and disadvantages of using the market rather than internalizing transactions within the firm.
To discuss various methods for undertaking business transactions.
To introduce and define the concept of the firm and its nature.
To explain how economic theory is presented from a pedagogical viewpoint, and how this relates to the organization and presentation of the material in the text.
To explain the methods used in the development of scientific theories and show their relevance to managerial economics.
To identify the main subject areas in managerial economics, explain how they are related to each other, and describe how they are organized and presented in the text.
To explain how managerial economics is related to other disciplines in business, such as marketing and finance.
To explain the relationship between managerial economics, economic theory and the decision sciences.
To explain the difference between positive and normative economics.
To outline the types of issue which are addressed by managerial economics.
To introduce and define managerial economics.
What measures can governments take to reduce price-fixing practices?
Discuss the various problems associated with regulating natural monopolies.
Why do governments sometimes protect monopolies from competition?
What is meant by predatory pricing? Why is it a concern to government authorities?
Different governments have different policies for determining the level of fuel taxes; what implications does this have for firms in different countries?
Examine the different policy options for a government dealing with the problem of traffic congestion, explaining the advantages and disadvantages of each option.
Discuss the advantages and disadvantages of public ownership.
Explain the relevance of the SCP model to government policy.
Explain why the stand-alone risk of a project is not of primary concern to shareholders.
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