Deviations from efficiency

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DEVIATIONS FROM EFFICIENCY

1) Monopoly/Monopsony: Why is MR < pD for a monopolist, why is MC > pS for a monopsonist, and why does it matter?

2) Game Theory: What is the Nash equilibrium for some simple game?

3) Oligopoly: Why is does the duopoly produce more than the monopoly and less than the competitive market?

4) Externalities/Public Goods: When do social costs/benefits deviation from private costs/benefits and why does it matter?

5) Asymmetric Information: Why does it matter that I know how risky/good I am but you don’t?

Reference no: EM131379961

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