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Managerial Economics

This class was created by Brainscape user Lemon Cake. Visit their profile to learn more about the creator.

By: Lemon Cake
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Decks in this class (15)

01 What ManEc is about
Definition manec,
The job of the chief executive of...,
The ceo orders the production man...
16  cards
02.01. Perfect Competition (youTube)
What is a basic assumption in per...,
When is profit max,
What happens if more suppliers en...
3  cards
02.03. Supply and Demand
Consumer surplus definition,
Producer surplus defintion,
Whats a sunk cost
18  cards
02.02. Competitive Markets
Why do economists think that comp...,
Definition market,
What are the 7 1 characteristics ...
43  cards
Cost Curves
The shapes of the long run ac and...,
If the tc long run cost curve ris...,
In the short run u shape forms ar...
7  cards
03. Maximizing Profit Under Monopoly
Definition market power,
Definition patent,
What are sources of market power ...
24  cards
03. Monopoly Markup
What is the monopoly markup,
What increases the size of the mo...,
The more elastic the demand curve...
5  cards
03. Cost and Benefits of a Monopoly
Where does the dwl come from,
What arethe major costs of a mono...,
Many monopolies around the world ...
7  cards
03. Network Effects
When do network effects arise,
What is metcalfes law,
When do indirect network effects ...
9  cards
04. Price Discrimination
The more inelastic a price is in ...,
Arbitrage makes it difficult,
Theultimate objective of every pr...
28  cards
05. Game Theory and Oligopoly
What is the prisoners dilemma,
Collusion definition,
Price leadership definition
27  cards
06. Game Theory and Business Strategy
When is a game cooperative,
When is a game non cooperative,
Nash equilibrium definition
29  cards
7 Markets with Asymmetric Information
Asymmetric information definition,
As consumers begin to realize tha...,
Whats the lemons problem
24  cards
6. Auctions
In auction games players called b...,
What are market transaction games,
Open outcry auction whats the dif...
10  cards
Case Questions
Think of a competitive marketsupp...,
The german government collects a ...,
Gail works in a flower shop where...
29  cards

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Managerial Economics

  • Class purpose General learning

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