管理经济学习题.docx

《管理经济学习题.docx》由会员上传分享，免费在线阅读，更多相关内容在行业资料-天天文库。

1、4ManagerialEconomics:Seminar1Exercises1.TheShandcompanyproducesblankCD’s.ThemarginalcostofeachCDis£20.Sincetherearemanysubstitutesforthefirm’sCD’s,thepriceelasticityofdemandforCD’sis2.(a)Thechairmanofthecompanybelievesthatcost-pluspricingisappropriatefor

2、thefirmHemarks-upmarginalcostsby100percenttoobtainprice.CalculatethepriceatwhichthefirmsellsitsCD’sandcommentonwhetherthechairmaniscorrect.(b)BecauseofgrowingcompetitionintheCDmarket,thepriceelasticityofdemandforthefirm’sCD’sincreasesto3.Thechairmanconti

3、nuestousethesamecost-pluspricingstrategy.CalculatethenewpriceatwhichtheCD’saresoldandcommentonwhetherthechairmaniscorrect.2.AmonopolyfirmhasademandfunctionQ=80-4P,andanaveragecost(AC)functionofAC=40Q-1+6,wherePispriceandQisquantity.(a)derivetheexpression

4、forthedemandcurvefromthedemandfunction(b)showthatthemarginalrevenuecurveisdownwardslopingfromlefttoright(c)calculatethelevelofoutput,price,andprofits,attheprofitmaximizinglevelofoutput,andcommentonyourresults.(d)calculatethepriceelasticityofdemandatthepr

5、ofitmaximizingpointonthedemandcurve,andcommentonyourresults3.Whywillamonopolist’sprofitmaximisingrateofoutputwillalwaysbeintheregionof(price)elasticdemand?4.Explainwhyafirminmonopolisticcompetitioncanonlyproduceatthelowestpointofitslong-runaveragecostcur

6、veintheshortrun.REVISIONQUESTIONWhatproblemsariseforindustryregulatorsiftheSCPmodelworksinreverse?4ManagerialEconomics:Seminar2Exercises1.AandBareduopolists.Thepayoffstobothfirmsfromdefaultingonanagreementare80:80;thebenefitstobothfirmsfromcolludingtouph

7、oldanagreementare:100:100.IfAdefaultsontheagreementandBupholdstheagreement,thepay-offsare150:20,respectively,whilethereverseholdsifBdefaultsontheagreementandAupholdsit.(a)Showthesepayoffsinmatrixform(b)Ifthegameisa‘one-shot’game,whatistheNashequilibriumo

8、utcome?(c)Explainwhyyouranswerto(b)isnotaParetoefficientoutcome.2.Suppose,now,thattheabovegameisplayedindefinitely:(a)Explainwhythethreatofpunishmentiscredible?(b)ExplainwhytheNashequilibriumisthesameasinQ1(b)above3.Suppos