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Microeconomics Content > Lecture 7: Private profit making organisations > Flashcards

Lecture 7: Private profit making organisations Flashcards

1
Q

Why do firms exist? Why not completely decentralise contracting?

A
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2
Q

Draw out monopolist pricing

A

PC prices at p = MC
monopolies price at MR=MC

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3
Q

Describe the three degrees of price descrimination

A
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4
Q

How does price descrimination affect equitity and efficiency?

A
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5
Q

What is x-inefficiency?

A
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Microeconomics Content (9 decks)

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