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Test Bank for Managerial Economics Theory Applications and Cases 8th Edition W Bruce Allen

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Test Bank for Managerial Economics Theory Applications and Cases 8th Edition W Bruce Allen

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Product Details:

  • ISBN-10 ‏ : ‎ 0393124495
  • ISBN-13 ‏ : ‎ 978-0393124491
  • Author: W Bruce Allen

Modernized for the 21st century, the Eighth Edition emphasizes strategic thinking by managers and includes over 50 new case studies on events from 2010 to 2012 that prepare students for today’s changing economy.

 

Table of Content:

  1. Part 1: The Need for a Guide
  2. Chapter 1: Introduction
  3. The Theory of the Firm
  4. What is Profit?
  5. Reasons for the Existence of Profit
  6. Managerial Interests and the Principal–Agent Problem
  7. Demand and Supply: A First Look
  8. The Demand Side of a Market
  9. The Supply Side of a Market
  10. Equilibrium Price
  11. Actual Price
  12. What If the Demand Curve Shifts?
  13. What If the Supply Curve Shifts?
  14. Summary
  15. Problems
  16. Excel Exercise: Demand, Supply, and Market Equilibrium
  17. Part 2: The Nature of Markets
  18. Chapter 2: Demand Theory
  19. The Market Demand Curve
  20. Industry and Firm Demand Functions
  21. The Own-Price Elasticity of Demand
  22. Point and Arc Elasticities
  23. Using the Demand Function to Calculate the Price Elasticity of Demand
  24. The Effect of Price Elasticity on the Firm’s Revenue
  25. Funding Public Transit
  26. Determinants of the Own-Price Elasticity of Demand
  27. The Strategic Use of the Price Elasticity of Demand
  28. Total Revenue, Marginal Revenue, and Price Elasticity
  29. The Income Elasticity of Demand
  30. Cross-Price Elasticities of Demand
  31. The Advertising Elasticity of Demand
  32. The Constant-Elasticity and Unitary Elastic Demand Functions
  33. Summary
  34. Problems
  35. Chapter 3: Consumer Behavior and Rational Choice
  36. Indifference Curves
  37. The Marginal Rate of Substitution
  38. The Concept of Utility
  39. The Budget Line
  40. The Equilibrium Market Bundle
  41. Maximizing Utility: A Closer Look
  42. Corner Solutions
  43. How Managers Can Strategically Influence Consumer Choices
  44. Deriving the Individual Demand Curve
  45. Deriving the Market Demand Curve
  46. Consumer Surplus
  47. Summary
  48. Problems
  49. Chapter 4: Estimating Demand Functions
  50. The Identification Problem
  51. Consumer Interviews
  52. Market Experiments
  53. Regression Analysis
  54. Simple Regression Model
  55. Sample Regression Line
  56. Method of Least Squares
  57. Coefficient of Determination
  58. Multiple Regression
  59. Software Packages and Computer Printouts
  60. Interpreting the Output of Statistical Software
  61. Multicollinearity
  62. Serial Correlation
  63. Further Analysis of the Residuals
  64. Summary
  65. Problems
  66. Appendix: The Coefficient of Determination and the Concept of Explained Variation
  67. Part 3: Production and Cost
  68. Chapter 5: Production Theory
  69. The Production Function with One Variable Input
  70. The Law of Diminishing Marginal Returns
  71. The Production Function with Two Variable Inputs
  72. Isoquants
  73. The Marginal Rate of Technical Substitution
  74. The Optimal Combination of Inputs
  75. Corner Solutions
  76. Returns to Scale
  77. The Output Elasticity
  78. Estimations of Production Functions
  79. Summary
  80. Problems
  81. Appendix: Lagrangian Multipliers and Optimal Input Combinations
  82. Chapter 6: The Analysis of Costs
  83. Opportunity Costs
  84. Short-Run Cost Functions
  85. Average and Marginal Costs
  86. Long-Run Cost Functions
  87. Managerial Use of Scale Economies
  88. Managerial Use of Scope Economies
  89. Transactions Costs Can Take Many Forms
  90. Network Economies
  91. Managerial Use of Break-Even Analysis
  92. Profit Contribution Analysis
  93. Summary
  94. Problems
  95. Excel Exercise: Production and Cost
  96. Appendix A: Break-Even Analysis and Operating Leverage
  97. Appendix B: Measurement of Short-Run Cost Functions: The Choice of a Mathematical Form
  98. Part 4: Market Structure and Simple Pricing Strategies
  99. Chapter 7: Perfect Competition
  100. Market Structure
  101. Market Price in Perfect Competition
  102. Shifts in Supply and Demand Curves
  103. The Output Decision of a Perfectly Competitive Firm
  104. Setting the Marginal Cost Equal to the Price
  105. Another Way of Viewing the Price Equals Marginal Cost Profit-Maximizing Rule
  106. Producer Surplus in the Short Run
  107. Long-Run Equilibrium of the Firm
  108. The Long-Run Adjustment Process: A Constant-Cost Industry
  109. The Long-Run Adjustment Process: An Increasing-Cost Industry
  110. How a Perfectly Competitive Economy Allocates Resources
  111. Summary
  112. Problems
  113. Excel Exercise: Perfect Competition
  114. Chapter 8: Monopoly and Monopolistic Competition
  115. Pricing and Output Decisions in Monopoly
  116. Cost-Plus Pricing
  117. Cost-Plus Pricing at Therma-Stent
  118. Cost-Plus Pricing at Internet Companies and Government-Regulated Industries
  119. Can Cost-Plus Pricing Maximize Profit?
  120. The Multiple-Product Firm: Demand Interrelationships
  121. Pricing of Joint Products: Fixed Proportions
  122. Output of Joint Products: Variable Proportions
  123. Monopsony
  124. Monopolistic Competition
  125. Advertising Expenditures: A Simple Rule
  126. Using Graphs to Help Determine Advertising Expenditure
  127. Advertising, Price Elasticity, and Brand Equity: Evidence on Managerial Behavior
  128. Summary
  129. Problems
  130. Excel Exercise: Simple Monopoly
  131. Appendix: Allocation of Output Among Plants
  132. Part 5: Sophisticated Market Pricing
  133. Chapter 9: Managerial Use of Price Discrimination
  134. Motivation for Price Discrimination
  135. Price Discrimination
  136. Using Coupons and Rebates for Price Discrimination
  137. Peak Load Pricing
  138. Two-Part Tariffs
  139. Summary
  140. Problems
  141. Excel Exercise: Perfect Price Discrimination
  142. Excel Exercise: Third-Degree Price Discrimination
  143. Appendix: Two-Part Tariff with Intersecting Demands
  144. Chapter 10: Bundling and Intrafirm Pricing
  145. The Mechanics of Bundling
  146. When to Unbundle
  147. Bundling as a Preemptive Entry Strategy
  148. Tying at IBM, Xerox, and Microsoft
  149. Transfer Pricing
  150. Transfer Pricing: A Perfectly Competitive Market fo the Upstream Product
  151. The Global Use of Transfer Pricing
  152. Summary
  153. Problems
  154. Excel Exercise: Transfer Pricing
  155. Part 6: The Strategic World of Managers
  156. Chapter 11: Oligopoly
  157. Cooperative Behavior
  158. The Breakdown of Collusive Agreements
  159. Price Leadership
  160. Possible Behavior in Markets with Few Rivals
  161. Duopolists and Price Competition with Differentiated Products
  162. The Sticky Pricing of Managers
  163. Summary
  164. Problems
  165. Excel Exercise: Dominant Firm Price Leader
  166. Excel Exercise: Cournot
  167. Excel Exercise: Stackelberg
  168. Chapter 12: Game Theory
  169. Making Strategy and Game Theory
  170. Strategy Basics
  171. Visual Representation
  172. Solution Concepts
  173. Equilibria
  174. Dominant Strategies
  175. The Nash Equilibrium
  176. Strategic Foresight: The Use of Backward Induction
  177. Repeated Games
  178. Incomplete Information Games
  179. Reputation Building
  180. Coordination Games
  181. Strictly Competitive Games
  182. Summary
  183. Problems
  184. Excel Exercise: Game Theory
  185. Chapter 13: Auctions
  186. A Short History of Auctions
  187. Types of Auction Mechanisms
  188. Auction Mechanism and Revenue Generation
  189. Bidding Strategies
  190. Strategies for Sellers
  191. Value of Information
  192. Risk Aversion
  193. Number of Bidders
  194. Winner’s Curse
  195. Concerns in Auction Design
  196. Summary
  197. Problems
  198. Excel Exercise: Auctions
  199. Part 7: Risk, Uncertainty, and Incentives
  200. Chapter 14: Risk Analysis
  201. Risk and Probability
  202. Probability Distributions and Expected Values
  203. Comparisons of Expected Profit
  204. Road Map to Decision
  205. The Expected Value of Perfect Information
  206. Measuring Attitudes Toward Risk: The Utility Approach
  207. Attitudes Toward Risk: Three Types
  208. The Standard Deviation and Coefficient of Variation: Measures of Risk
  209. Adjusting the Valuation Model for Risk
  210. Certainty Equivalence and the Market for Insurance
  211. Summary
  212. Problems
  213. Excel Exercise: Expected Utility
  214. Chapter 15: Principal–Agent Issues and Managerial Compensatoin
  215. Principal–Agent Issues
  216. The Diverging Paths of Owners and Managers
  217. The Principal–Agent Situation
  218. The Effect of Risk, Information, and Compensation on Principal–Agent Issues
  219. Resolving the Incentive Conflict When Output Is Risky and Effort Is Not Observable
  220. Some Refinements to Managerial Compensation
  221. Principal–Agent in Other Contexts
  222. Product Liability and the Safety of Consumer Goods
  223. Summary
  224. Problems
  225. Excel Exercise: Moral Hazard
  226. Chapter 16: Adverse Selection
  227. The Market for “Lemons”
  228. Adverse Selection in Automobile Insurance
  229. The Market for Annuities
  230. Resolving Adverse Selection Through Self-Selection
  231. Using Education as a Signal: Adverse Selection in the Job Market
  232. Using Warranties as Signals: Adverse Selection in the Product Market
  233. Summary
  234. Problems
  235. Excel Exercise: Adverse Selection
  236. Part 8: Government Actions and Managerial Behavior
  237. Chapter 17: Government and Business
  238. Competition Versus Monopoly
  239. Regulation of Monopoly
  240. The One Star Gas Company: A Pseudo-Case Study
  241. Effects of Regulation on Efficiency
  242. The Concentration of Economic Power
  243. The Sherman Act
  244. The Clayton Act, the Robinson-Patman Act, and the Federal Trade Commission Act
  245. Interpretation of the Antitrust Laws
  246. The Patent System
  247. Trade and Trade Policy
  248. Government Price Ceilings and Price Floors
  249. The Welfare Impacts of Taxes
  250. Regulation of Environmental Pollution
  251. Public Goods
  252. Summary
  253. Problems
  254. Excel Exercise: Externalities
  255. Chapter 18: Optimization Techniques
  256. Functional Relationships
  257. Marginal Analysis
  258. Relationships Among Total, Marginal, and Average Values
  259. The Concept of a Derivative
  260. How to Find a Derivative
  261. Using Derivatives to Solve Maximization and Minimization Problems
  262. Marginal Cost Equals Marginal Revenue and the Calculus of Optimization
  263. Partial Differentiation and the Maximization of Multivariable Functions
  264. Constrained Optimization
  265. Lagrangian Multipliers
  266. Comparing Incremental Costs with Incremental Revenues
  267. Summary
  268. Problems
  269. Appendix A: Technological Change and Industrial Innovation
  270. Technological Change
  271. Labor Productivity
  272. Total Factor Productivity
  273. Using Total Factor Productivity to Track Factory Performance
  274. Research and Development: A Learning Process
  275. Parallel Development Efforts
  276. What Makes for Success?
  277. Project Selection
  278. Innovation
  279. Time-Cost Trade-Offs
  280. The Learning Curve
  281. Applications of the Learning Curve
  282. Henry Ford’s Model T and Douglas Aircraft’s DC-9
  283. Diffusion Models
  284. Forecasting the Rate of Diffusion of Numerically Controlled Machine Tools
  285. Summary
  286. Problems
  287. Appendix B: Business and Economic Forecasting
  288. Survey Techniques
  289. Taking Apart a Time Series
  290. How to Estimate a Linear Trend
  291. How to Estimate a Nonlinear Trend
  292. Seasonal Variation
  293. Calculation of Seasonal Variation
  294. Cyclical Variation
  295. Elementary Forecasting Techniques
  296. How Leading Indicators are Used
  297. How Econometric Models are Used
  298. The Purvere Corporation: A Numerical Example
  299. “Study Your Residuals”
  300. Summary
  301. Problems
  302. Appendix: Exponential Smoothing and Forecasting
  303. Appendix C: Discounting and Present Values
  304. Present Value of a Series of Payments
  305. The Use of Periods Other Than a Year
  306. Determining the Internal Rate of Return
  307. Appendix D: Answers to Select End-Of-Chapter Problems
  308. Appendix E: Tables
  309. Index

 

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