Microeconomics – 7. Oligopoly and Strategic Behavior
Define oligopoly. Illustrate scale-economy barriers to entry. Explain the entry dilemma in oligopolistic industries. What kinds of industries are characterized by large capital requirements barriers to entry? Identify three sources…
Microeconomics – 3. Demand and Consumer Behavior
Consumer choice boils down to what three things? What is the difference between a cardinal and ordinal measure of utility? What is the difference between total versus marginal utility? Explain…