Econ on the Go

How can firms overcome the challenges of aligning incentives within the organization?

Hosted on Acast. See acast.com/privacy for more information.

These two models of asymmetric information occur before the economic relationship (adverse selection) or after the contract is signed (moral hazard).

Hosted on Acast. See acast.com/privacy for more information.

The quantity-choice oligopoly games are Cournot (simultaneous) and Stackelberg (sequential).

Hosted on Acast. See acast.com/privacy for more information.

What are oligopolies, how are they regulated, and what is the Bertrand pricing model?

Hosted on Acast. See acast.com/privacy for more information.

Sequential games and how to solve them are explained.

Hosted on Acast. See acast.com/privacy for more information.

This covers the principles of game theory, and explores the simultaneous move games (like Prisoner's Dilemma).

Hosted on Acast. See acast.com/privacy for more information.

Two pricing strategies firms can use to increase revenue are two-part tariffs (a fixed fee plus a per-unit charge) and bundling (selling two different products/services together in a package).

Hosted on Acast. See acast.com/privacy for more information.

How do monopolists set their optimal price, and how can firms increase their profits by charging different prices to different customers for the same product or service?

Hosted on Acast. See acast.com/privacy for more information.

Why is the competitive firm's supply curve equal to the marginal cost curve, and why do firms earn zero profits in the long run?

Hosted on Acast. See acast.com/privacy for more information.

What is the rule for how much a firm should produce if they want to maximize profits?

Hosted on Acast. See acast.com/privacy for more information.

How does a monopolist trade off changes in revenue from existing customers and the changes from new or lost customers?

Hosted on Acast. See acast.com/privacy for more information.

What happens when input prices or quantity targets change, and what are the differences between total, variable and fixed costs?

Hosted on Acast. See acast.com/privacy for more information.

Variable and fixed costs affect which is the optimal combination of inputs the firm should use to produce its products and services.

Hosted on Acast. See acast.com/privacy for more information.

Economic concepts of production technology are explored in this episode.

Hosted on Acast. See acast.com/privacy for more information.

The second set of government interventions are the price and quantity restrictions.

Hosted on Acast. See acast.com/privacy for more information.

How do taxes affect the competitive equilibrium, and how are subsidies related to taxes?

Hosted on Acast. See acast.com/privacy for more information.

This episode discusses the supply-demand framework and how the competitive market results in the most surplus in the market.

Hosted on Acast. See acast.com/privacy for more information.

Why does the supply curve slope up, and what are the factors that affect the supply curve?

Hosted on Acast. See acast.com/privacy for more information.

The demand curve concepts of consumer surplus and elasticity are explored in more detail.

Hosted on Acast. See acast.com/privacy for more information.

Why does the demand curve slope down, and how do changes in the economy affect the demand curve?

Hosted on Acast. See acast.com/privacy for more information.