Managerial Economics Check List For Comps   

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Calculating and Interpreting Present Discounted Value Using functions for Supply & Demand to find Equilibrium Prices Calculating the Demand Elasticity, Cross Elasticity, and Income Elasticity of a Demand Curve o Identifying Elastic, Inelastic, and Unit Elastic Points o Identifying Normal and Inferior Goods o Identifying Compliments and Subsites Indifference Curves & Budget Lines Marginal Product, Average Product, & Value Marginal Product Using Equations to Calculate Cost o Total Cost, Fixed Cost, Variable Cost o Average Total Cost, Average Fixed Cost, Average Variable Cost o Marginal cost Game Theory o Sequential Games o Simultaneous Games Government Threat to the Firm o HHI and Four Firm Concentration Ratios (and their weaknesses) o Perfect Completion (and why there is no deadweight loss) o Deadweight Loss from a Monopoly (with graph of deadweight loss) o Entry Barriers o Policy Options to counter Monopoly and their weaknesses Graphically Show Expected Long Term Profit for Price Searcher without Entry Barriers Find Output and Total Profit for a Price Taker with TR and TC equations Price Discrimination: 1st, 2nd, and 3rd Oligopoly o Sweezy o Cournot o Stackelberg Coase: The Theory of the Firm Miller: Chapters 1-8