ECO 550 Final Exams

In a game, a dominated strategy is one where:

The starting point of many methods for predicting equilibrium strategy in sequential games is

Credible promises and hostage mechanisms can support a continuous stream of cooperative exchanges except when

The Prisoner’s Dilemma involves two spies who are held in separate soundproof rooms.  But even if the two spies could communicate, what makes it difficult for them to achieve the cooperative solution (both not confessing)?

Non-cooperative sequential games can incorporate all the following features except

The segmenting of customers into several small groups such as household, institutional, commercial, and industrial users, and establishing a different rate schedule for each group is known as:

____ is the price at which an intermediate good or service is transferred from the selling to the buying division within the same firm.

To maximize profits, a monopolist that engages in price discrimination must allocate output in such a way as to make identical the ____ in all markets.

Vacation tours to Europe invariably package visits to disparate regions:  cities, mountains, and the seaside.  Bundling, a type of second degree price discrimination, is most profitable when:

Third-degree price discrimination exists whenever:

To accomplish its purpose a linear profit-sharing contract must

When retail bicycle dealers advertise and perform warranty repairs but do not deliver the personal selling message that Schwinn has designed as part of the marketing plan but cannot observe at less than prohibitive cost, the manufacturer has encountered a problem of ____.

Buying electricity off the freewheeling grid at one quarter 'til the hour for delivery on the hour illustrates:

Vertical integration may be motivated by all of the following except:

When manufacturers and distributors establish credible commitments to one another, they often employ

The ____ is equal to the some of the squares of the market shares of all the firms in an industry.

____ yields the same results as the theory of perfect competition, but requires substantially fewer assumptions than the perfectly competitive model.

The lower the barriers to entry and exit, the more nearly a market structure fits the ____ market model.

____ occurs whenever a third party receives or bears costs arising from an economic transaction in which the individual (or group) is not a direct participant.

The sentiment for increased deregulation in the late 1970's and early 1980's has been felt most significantly in the price regulation of

In determining the optimal capital budget, one should choose those project's whose ____ exceeds the firm's ____ cost of capital.

Which of the following would not be classified as a capital expenditure for decision-making purposes?

In cost-effectiveness analysis, constant cost studies:

Any current outlay that is expected to yield a flow of benefits beyond one year in the future is:

Cost-benefit analysis is the public sector counterpart to ____ used in private, profit-oriented firms.