Managerial Economics Report


Double Spaced, needs an introduction and conclusion, should be 4-6 pages.

Answer any ONE of the following questions.

This Assignment represents 25% of the total marks for your course. The last date for submission of this assignment is Wednesday June 2.

  1. Discuss the Price, Cross Price and Income Elasticity of demand. Use examples to distinguish between the three elasticities. Discuss the concept of Elasticity of Supply. Use examples to discuss this concept.
  2. Compare profit and output maximizing behaviour of firms under the following market systems:
  3. Perfect Competition.
  4. Monopolistic Competition.
  5. Pure Monopoly.
  6. Explain the basic kinked demand curve under Oligopoly. Draw a diagram to explain the model. Compare the main features of the FOUR Oligopoly Models. Use examples form the real world to explain the four different Oligopoly market structures.

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