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Answer all the following questions.
1. Outline the importance of value maximization in the theory of the firm
2. Describe how factors, other than price, impact on demand and distinguish between changes in the quantity demanded and changes in demand.
3. Identify the techniques available for collecting data. Explain the different forecasting tools available to managers
4. Explain the law of diminishing returns.
5. Explain the difference between costs in the short run and long run.
6. Describe the key features of the major market structure types.
7. Explain the importance of price discrimination and two- part tariff pricing to a monopolist.
8. Describe the methodology employed in benefit-cost analysis.
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This assignment is about basic concepts in economics. Some important theories like the firm theory have been discussed in the relation that how it firms operating today to maximize their value. Different types of market structures have been discussed along with factors that operate the pricing and demand in these markets. To assess all this, we need sufficient data and proper data collection and forecasting methods have been included. Methods of doing cost benefit analysis have been given one by one steps involved. The law of diminishing returns, short run and long run costs and price discrimination are discussed
Linear programming is a mathematical technique used to determine the optimal solutions to certain specific problems.
The article study for the demand, supply and the market equilibrium has been discussed. The article that has been review was published on August 2012.
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MGMT 3306: Solve the assignment problems, 1. Please answer the assignment questions in this docx file and save once you’re satisfied. Assignment 3covers the lectures slides for Week 6.
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