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CB2: Business Economics Exam Prep (CB2)
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Module 6
Imperfect Competition and Strategic Behavior
1
Monopolistic Competition: Short-Run Equilibrium
Calculate the short-run equilibrium price, output, and profit for a monopolistically competitive firm.
2
Monopolistic Competition: Long-Run Equilibrium & Excess Capacity
Calculate the long-run equilibrium for a monopolistically competitive firm and quantify its excess capacity.
3
Building Payoff Matrices for Oligopoly Games
Construct a payoff matrix from a strategic game description to illustrate oligopolistic interdependence.
Dominant Strategies and Nash Equilibrium
Identify dominant strategies and the Nash equilibrium in a given payoff matrix.
5
The Kinked Demand Curve Model
Explain the kinked demand curve model and its assumptions about rivals' responses to price changes.
6
Kinked Demand Curve and Marginal Revenue
Calculate the segmented marginal revenue curve implied by a kinked demand curve.
Cartel Stability: The Incentive to Defect
Analyse cartel stability using a payoff matrix by calculating the incentive to defect from a collusive agreement.
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Market Structures: Competition and Monopoly
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Advanced Pricing Strategies