My essay question tomorrow is:
The essay topics will come from this list:
-perfect competition
-monopolistic competition
-monopoly markets
-oligopolies, duopolies, and strategic behavior (game theory)
-the cost structure in production processes
In each case be prepared to describe the market, the typical outcomes in terms of equilibrium price and quantity, the underlying assumptions about behavior, profit-maximizing behavior in that market, and the impact on society as a whole of these types of markets.
Anyone here economics-minded who has some input right off the bat? If not, do you know where I could find out? My notes and textbook are proving to be fairly useless. I would appreciate ANY help greatly.
