Question 1: Describe the principal-agent problem as it relates to managers and workers.
Question 2: Discuss four tools the manager can use to mitigate incentive problems in the workplace.
Question 3: Calculate alternative measures of industry structure, conduct, and performance, and discuss their limitations.
Question 4: Describe examples of vertical, horizontal, and conglomerate mergers, and explain the economic basis for each type of merger.
Question 5: Explain the relevance of the Herfindahl- Hirschman index for antitrust policy under the horizontal merger guidelines.
Question 6: Describe the structure- conduct- performance paradigm, the feedback critique, and their relation to the five forces framework.
Question 7: Identify whether an industry is best described as perfectly competitive, a monopoly, monopolistically competitive, or an oligopoly.