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Managerial Economics and Strategy uses real-­world issues and examples to illustrate how economic principles impact business decisions. Emphases on agency and contract theory, managerial behavioral economics, game theory, and pricing are especially valuable to future managers. In-text examples and boxed mini­-cases use actual data to illustrate the use of basic economic models, while Q&As pose important managerial or economic problems and demonstrate a step-by-step approach to solving them.

The Second Edition has been fully revised and updated to reflect new supply-and-demand curves and include discussions of corporate social responsibility, opportunistic behavior, and innovation. It also features new learning objectives, examples, end-of-chapter questions, and spreadsheet exercises.

 

Table of Content:

  1. Chapter 1 Introduction
  2. 1.1 Managerial Decision Making
  3. Profit
  4. Trade‐Offs
  5. Other Decision Makers
  6. Strategy
  7. 1.2 Economic Models
  8. Mini‐Case Using an Income Threshold Model in China
  9. Simplifying Assumptions
  10. Testing Theories
  11. Positive and Normative Statements
  12. Summary
  13. Chapter 2 Supply and Demand
  14. Managerial Problem Carbon Taxes
  15. 2.1 Demand
  16. The Demand Curve
  17. The Demand Function
  18. Using Calculus Deriving the Slope of a Demand Curve
  19. Summing Demand Curves
  20. Mini‐Case Summing Corn Demand Curves
  21. 2.2 Supply
  22. The Supply Curve
  23. The Supply Function
  24. Summing Supply Curves
  25. 2.3 Market Equilibrium
  26. Using a Graph to Determine the Equilibrium
  27. Using Algebra to Determine the Equilibrium
  28. Forces That Drive the Market to Equilibrium
  29. 2.4 Shocks to the Equilibrium
  30. Effects of a Shift in the Demand Curve
  31. Q&A 2.1
  32. Effects of a Shift in the Supply Curve
  33. Managerial Implication Taking Advantage of Future Shocks
  34. Effects of Shifts in both Supply and Demand Curves
  35. Mini‐Case Genetically Modified Foods
  36. Q&A 2.2
  37. 2.5 Effects of Government Interventions
  38. Policies That Shift Curves
  39. Mini‐Case Occupational Licensing
  40. Price Controls
  41. Mini‐Case Venezuelan Price Ceilings and Shortages
  42. Sales Taxes
  43. Q&A 2.3
  44. Managerial Implication Cost Pass‐Through
  45. 2.6 When to Use the Supply‐and‐Demand Model
  46. Managerial Solution Carbon Taxes
  47. Summary
  48. Questions
  49. Chapter 3 Empirical Methods for Demand Analysis
  50. Managerial Problem Estimating the Effect of an iTunes Price Change
  51. 3.1 Elasticity
  52. The Price Elasticity of Demand
  53. Managerial Implication Changing Prices to Calculate an Arc Elasticity
  54. Q&A 3.1
  55. Mini‐Case Demand Elasticities for Google Play and Apple Apps
  56. Using Calculus The Point Elasticity of Demand
  57. Elasticity Along the Demand Curve
  58. Q&A 3.2
  59. Other Demand Elasticities
  60. Mini‐Case Anti‐Smoking Policies May Reduce Drunk Driving
  61. Demand Elasticities over Time
  62. Other Elasticities
  63. Estimating Demand Elasticities
  64. 3.2 Regression Analysis
  65. A Demand Function Example
  66. Mini‐Case The Portland Fish Exchange
  67. Multivariate Regression
  68. Q&A 3.3
  69. Goodness of Fit and the R2 Statistic
  70. Managerial Implication Focus Groups
  71. 3.3 Properties and Statistical Significance of ‐Estimated Coefficients
  72. Repeated Samples
  73. Desirable Properties for Estimated Coefficients
  74. A Focus Group Example
  75. Confidence Intervals
  76. Hypothesis Testing and Statistical Significance
  77. 3.4 Regression Specification
  78. Selecting Explanatory Variables
  79. Mini‐Case Determinants of CEO Compensation
  80. Q&A 3.4
  81. Functional Form
  82. Managerial Implication Experiments
  83. 3.5 Forecasting
  84. Extrapolation
  85. Theory‐Based Econometric Forecasting
  86. Managerial Solution Estimating the Effect of an iTunes Price Change
  87. Summary
  88. Questions
  89. Chapter 4 Consumer Choice
  90. Managerial Problem Paying Employees to Relocate
  91. 4.1 Consumer Preferences
  92. Properties of Consumer Preferences
  93. Mini‐Case You Can’t Have Too Much Money
  94. Preference Maps
  95. 4.2 Utility
  96. Utility Functions
  97. Ordinal and Cardinal Utility
  98. Marginal Utility
  99. Using Calculus Marginal Utility
  100. Marginal Rates of Substitution
  101. 4.3 The Budget Constraint
  102. Slope of the Budget Line
  103. Using Calculus The Marginal Rate of Transformation
  104. Effects of a Change in Price on the ‐Opportunity Set
  105. Effects of a Change in Income on the ‐Opportunity Set
  106. Q&A 4.1
  107. Mini‐Case Rationing
  108. Q&A 4.2
  109. 4.4 Constrained Consumer Choice
  110. The Consumer’s Optimal Bundle
  111. Q&A 4.3
  112. Mini‐Case Why Americans Buy More E‐Books Than Do Germans
  113. Q&A 4.4
  114. Promotions
  115. Managerial Implication Designing Promotions
  116. 4.5 Deriving Demand Curves
  117. 4.6 Behavioral Economics
  118. Tests of Transitivity
  119. Endowment Effects
  120. Mini‐Case How You Ask the Question Matters
  121. Salience
  122. Managerial Implication Simplifying ‐Consumer Choices
  123. Managerial Solution Paying Employees to Relocate
  124. Summary
  125. Questions
  126. Appendix 4A The Marginal Rate of Substitution
  127. Appendix 4B The Consumer Optimum
  128. Chapter 5 Production
  129. Managerial Problem Labor Productivity During Recessions
  130. 5.1 Production Functions
  131. 5.2 Short‐Run Production
  132. The Total Product Function
  133. The Marginal Product of Labor
  134. Using Calculus Calculating the Marginal Product of Labor
  135. Q&A 5.1
  136. The Average Product of Labor
  137. Graphing the Product Curves
  138. The Law of Diminishing Marginal Returns
  139. Mini‐Case Malthus and the Green Revolution
  140. 5.3 Long‐Run Production
  141. Isoquants
  142. Mini‐Case A Semiconductor Isoquant
  143. Substituting Inputs
  144. Q&A 5.2
  145. Using Calculus Cobb‐Douglas Marginal Products
  146. 5.4 Returns to Scale
  147. Constant, Increasing, and Decreasing Returns to Scale
  148. Q&A 5.3
  149. Mini‐Case Returns to Scale for Crocs
  150. Varying Returns to Scale
  151. Managerial Implication Small Is Beautiful
  152. 5.5 Innovation
  153. Process Innovation
  154. Mini‐Case Robots and the Food You Eat
  155. Organizational Innovation
  156. Mini‐Case A Good Boss Raises Productivity
  157. Managerial Solution Labor Productivity During Recessions
  158. Summary
  159. Questions
  160. Chapter 6 Costs
  161. Managerial Problem Technology Choice at Home Versus Abroad
  162. 6.1 The Nature of Costs
  163. Opportunity Costs
  164. Mini‐Case The Opportunity Cost of an MBA
  165. Q&A 6.1
  166. Costs of Durable Inputs
  167. Sunk Costs
  168. Managerial Implication Ignoring Sunk Costs
  169. 6.2 Short‐Run Costs
  170. Common Measures of Cost
  171. Using Calculus Calculating Marginal Cost
  172. Cost Curves
  173. Production Functions and the Shapes of Cost Curves
  174. Using Calculus Calculating Cost Curves
  175. Short‐Run Cost Summary
  176. 6.3 Long‐Run Costs
  177. Mini‐Case Short Run Versus Long Run in the Sharing Economy
  178. Input Choice
  179. Managerial Implication Cost Minimization by Trial and Error
  180. Mini‐Case The Internet and Outsourcing
  181. Q&A 6.2
  182. The Shapes of Long‐Run Cost Curves
  183. Mini‐Case Economies of Scale at Google
  184. Q&A 6.3
  185. Long‐Run Average Cost as the Envelope of Short‐Run Average Cost Curves
  186. Mini‐Case Long‐Run Cost Curves in Beer Manufacturing and Oil Pipelines
  187. 6.4 The Learning Curve
  188. Mini‐Case Learning by Drilling
  189. 6.5 The Costs of Producing Multiple Goods
  190. Mini‐Case Medical Economies of Scope
  191. Managerial Solution Technology Choice at Home Versus Abroad
  192. Summary
  193. Questions
  194. Appendix 6A Long‐Run Cost Minimization
  195. Chapter 7 Firm Organization and Market Structure
  196. Managerial Problem Clawing Back Bonuses
  197. 7.1 Ownership and Governance of Firms
  198. Private, Public, and Nonprofit Firms
  199. Mini‐Case Chinese State‐Owned Enterprises
  200. Ownership of For‐Profit Firms
  201. Firm Governance
  202. 7.2 Profit Maximization
  203. Profit
  204. Two Steps to Maximizing Profit
  205. Using Calculus Maximizing Profit
  206. Q&A 7.1
  207. Managerial Implication Marginal Decision Making
  208. Profit over Time
  209. Managerial Implication Stock Prices Versus Profit
  210. 7.3 Owners’ Versus Managers’ Objectives
  211. Consistent Objectives
  212. Q&A 7.2
  213. Conflicting Objectives
  214. Q&A 7.3
  215. Mini‐Case Company Jets
  216. Corporate Social Responsibility
  217. Monitoring and Controlling a Manager’s Actions
  218. Takeovers and the Market for Corporate Control
  219. Mini‐Case The Yahoo! Poison Pill
  220. 7.4 The Make or Buy Decision
  221. Stages of Production
  222. Vertical Integration
  223. Profitability and the Supply Chain Decision
  224. Mini‐Case Vertical Integration at Zara
  225. Mini‐Case Aluminum
  226. Market Size and the Life Cycle of a Firm
  227. 7.5 Market Structure
  228. The Four Main Market Structures
  229. Comparison of Market Structures
  230. Road Map to the Rest of the Book
  231. Managerial Solution Clawing Back Bonuses
  232. Summary
  233. Questions
  234. Appendix 7A Interest Rates, Present Value, and Future Value
  235. Chapter 8 Competitive Firms and Markets
  236. Managerial Problem The Rising Cost of Keeping On Truckin’
  237. 8.1 Perfect Competition
  238. Characteristics of a Perfectly Competitive Market
  239. Deviations from Perfect Competition
  240. 8.2 Competition in the Short Run
  241. How Much to Produce
  242. Q&A 8.1
  243. Using Calculus Profit Maximization with a Specific Tax
  244. Whether to Produce
  245. Mini‐Case Fracking and Shutdowns
  246. Managerial Implication Sunk Costs and the Shutdown Decision
  247. The Short‐Run Firm Supply Curve
  248. The Short‐Run Market Supply Curve
  249. Short‐Run Competitive Equilibrium
  250. 8.3 Competition in the Long Run
  251. Long‐Run Competitive Profit Maximization
  252. The Long‐Run Firm Supply Curve
  253. Mini‐Case The Size of Ethanol Processing Plants
  254. The Long‐Run Market Supply Curve
  255. Mini‐Case Entry and Exit of Solar Power Firms
  256. Mini‐Case An Upward‐Sloping Long‐Run Supply Curve for Cotton
  257. Long‐Run Competitive Equilibrium
  258. Q&A 8.2
  259. Zero Long‐Run Profit with Free Entry
  260. 8.4 Competition Maximizes Economic Well‐Being
  261. Consumer Surplus
  262. Managerial Implication Willingness to Pay on eBay
  263. Producer Surplus
  264. Q&A 8.3
  265. Q&A 8.4
  266. Competition Maximizes Total Surplus
  267. Mini‐Case The Deadweight Loss of Christmas Presents
  268. Effects of Government Intervention
  269. Q&A 8.5
  270. Managerial Solution The Rising Cost of Keeping On Truckin’
  271. Summary
  272. Questions
  273. Chapter 9 Monopoly
  274. Managerial Problem Brand‐Name and Generic Drugs
  275. 9.1 Monopoly Profit Maximization
  276. Marginal Revenue
  277. Using Calculus Deriving a Monopoly’s Marginal Revenue Function
  278. Q&A 9.1
  279. Choosing Price or Quantity
  280. Two Steps to Maximizing Profit
  281. Using Calculus Solving for the Profit‐Maximizing Output
  282. Effects of a Shift of the Demand Curve
  283. 9.2 Market Power
  284. Market Power and the Shape of the Demand Curve
  285. Managerial Implication Checking Whether the Firm Is Maximizing Profit
  286. Mini‐Case Cable Cars and Profit Maximization
  287. The Lerner Index
  288. Mini‐Case Apple’s iPad
  289. Q&A 9.2
  290. Sources of Market Power
  291. 9.3 Market Failure Due to Monopoly Pricing
  292. Q&A 9.3
  293. 9.4 Causes of Monopoly
  294. Cost‐Based Monopoly
  295. Q&A 9.4
  296. Government Creation of Monopoly
  297. Mini‐Case The Canadian Medical Marijuana Market
  298. Mini‐Case Botox
  299. 9.5 Advertising
  300. Deciding Whether to Advertise
  301. How Much to Advertise
  302. Using Calculus Optimal Advertising
  303. Q&A 9.5
  304. Mini‐Case Super Bowl Commercials
  305. 9.6 Networks, Dynamics, and Behavioral ‐Economics
  306. Network Externalities
  307. Network Externalities and Behavioral Economics
  308. Network Externalities as an Explanation for Monopolies
  309. Mini‐Case Critical Mass and eBay
  310. Managerial Implication Introductory Prices
  311. Managerial Solution Brand‐Name and Generic Drugs
  312. Summary
  313. Questions
  314. Chapter 10 Pricing with Market Power
  315. Managerial Problem Sale Prices
  316. 10.1 Conditions for Price Discrimination
  317. Why Price Discrimination Pays
  318. Mini‐Case Disneyland Pricing
  319. Which Firms Can Price Discriminate
  320. Managerial Implication Preventing Resale
  321. Mini‐Case Preventing Resale of Designer Bags
  322. Not All Price Differences Are Price Discrimination
  323. Types of Price Discrimination
  324. 10.2 Perfect Price Discrimination
  325. How a Firm Perfectly Price Discriminates
  326. Perfect Price Discrimination Is Efficient but Harms Some Consumers
  327. Mini‐Case Botox Revisited
  328. Q&A 10.1
  329. Individual Price Discrimination
  330. Mini‐Case Google Uses Bidding for Ads to Price Discriminate
  331. 10.3 Group Price Discrimination
  332. Group Price Discrimination with Two Groups
  333. Using Calculus Maximizing Profit for a Group Discriminating Monopoly
  334. Q&A 10.2
  335. Identifying Groups
  336. Managerial Implication Discounts
  337. Effects of Group Price Discrimination on Total Surplus
  338. 10.4 Nonlinear Price Discrimination
  339. 10.5 Two‐Part Pricing
  340. Two‐Part Pricing with Identical Consumers
  341. Two‐Part Pricing with Differing Consumers
  342. Mini‐Case Available for a Song
  343. 10.6 Bundling
  344. Pure Bundling
  345. Mixed Bundling
  346. Q&A 10.3
  347. Requirement Tie‐In Sales
  348. Managerial Implication Ties That Bind
  349. 10.7 Peak‐Load Pricing
  350. Mini‐Case Downhill Pricing
  351. Managerial Solution Sale Prices
  352. Summary
  353. Questions
  354. Chapter 11 Oligopoly and Monopolistic Competition
  355. Managerial Problem Gaining an Edge from Government Aircraft Subsidies
  356. 11.1 Cartels
  357. Why Cartels Succeed or Fail
  358. Mini‐Case The Apple‐Google‐Intel‐Adobe‐Intuit‐Lucasfilm‐Pixar Wage Cartel
  359. Maintaining Cartels
  360. Mini‐Case Cheating on the Maple Syrup Cartel
  361. 11.2 Cournot Oligopoly
  362. Airlines
  363. Using Calculus Deriving a Cournot Firm’s Marginal Revenue
  364. The Number of Firms
  365. Mini‐Case Mobile Phone Number Portability
  366. Nonidentical Firms
  367. Q&A 11.1
  368. Q&A 11.2
  369. Managerial Implication Differentiating a Product Through Marketing
  370. Mergers
  371. Mini‐Case Acquiring Versus Merging
  372. 11.3 Bertrand Oligopoly
  373. Identical Products
  374. Differentiated Products
  375. 11.4 Monopolistic Competition
  376. Managerial Implication Managing in the Monopolistically Competitive Food Truck Market
  377. Equilibrium
  378. Q&A 11.3
  379. Profitable Monopolistically Competitive Firms
  380. Mini‐Case Zoning Laws as a Barrier to Entry by Hotel Chains
  381. Managerial Solution Gaining an Edge from Government Aircraft Subsidies
  382. Summary
  383. Questions
  384. Appendix 11A Cournot Oligopoly with Many Firms
  385. Appendix 11B Nash‐Bertrand Equilibrium
  386. Chapter 12 Game Theory and Business Strategy
  387. Managerial Problem Dying to Work
  388. 12.1 Oligopoly Games
  389. Dominant Strategies
  390. Best Responses
  391. Failure to Maximize Joint Profits
  392. Mini‐Case Strategic Advertising
  393. Q&A 12.1
  394. 12.2 Types of Nash Equilibria
  395. Multiple Equilibria
  396. Mini‐Case Timing Radio Ads
  397. Mixed‐Strategy Equilibria
  398. Mini‐Case Competing E‐Book Formats
  399. Q&A 12.2
  400. 12.3 Information and Rationality
  401. Incomplete Information
  402. Managerial Implication Solving Coordination Problems
  403. Rationality
  404. Managerial Implication Using Game Theory to Make Business Decisions
  405. 12.4 Bargaining
  406. Bargaining Games
  407. The Nash Bargaining Solution
  408. Q&A 12.3
  409. Using Calculus Maximizing the Nash Product
  410. Mini‐Case Nash Bargaining over Coffee
  411. Inefficiency in Bargaining
  412. 12.5 Auctions
  413. Elements of Auctions
  414. Bidding Strategies in Private‐Value Auctions
  415. Mini‐Case Experienced Bidders
  416. The Winner’s Curse
  417. Managerial Implication Auction Design
  418. Managerial Solution Dying to Work
  419. Summary
  420. Questions
  421. Chapter 13 Strategies over Time
  422. Managerial Problem Intel and AMD’s Advertising Strategies
  423. 13.1 Repeated Games
  424. Strategies and Actions in Dynamic Games
  425. Cooperation in a Repeated Prisoner’s Dilemma Game
  426. Mini‐Case Tit‐for‐Tat Strategies in Trench Warfare
  427. Implicit Versus Explicit Collusion
  428. Finitely Repeated Games
  429. 13.2 Sequential Games
  430. Stackelberg Oligopoly
  431. Credible Threats
  432. Q&A 13.1
  433. 13.3 Deterring Entry
  434. Exclusion Contracts
  435. Mini‐Case Pay‐for‐Delay Agreements
  436. Limit Pricing
  437. Mini‐Case Pfizer Uses Limit Pricing to Slow Entry
  438. Q&A 13.2
  439. Entry Deterrence in a Repeated Game
  440. 13.4 Cost and Innovation Strategies
  441. Investing to Lower Marginal Cost
  442. Learning by Doing
  443. Raising Rivals’ Costs
  444. Q&A 13.3
  445. Mini‐Case Auto Union Negotiations
  446. 13.5 Disadvantages of Moving First
  447. The Holdup Problem
  448. Mini‐Case Venezuelan Nationalization
  449. Managerial Implication Avoiding Holdups
  450. Too‐Early Product Innovation
  451. Mini‐Case Advantages and Disadvantages of Moving First
  452. 13.6 Behavioral Game Theory
  453. Ultimatum Games
  454. Mini‐Case GM’s Ultimatum
  455. Levels of Reasoning
  456. Managerial Implication Taking Advantage of ‐Limited Strategic Thinking
  457. Managerial Solution Intel and AMD’s ‐Advertising Strategies
  458. Summary
  459. Questions
  460. Appendix 13A A Mathematical Approach to Stackelberg Oligopoly
  461. Chapter 14 Managerial Decision Making Under Uncertainty
  462. Managerial Problem BP’s Risk and Limited Liability
  463. 14.1 Assessing Risk
  464. Probability
  465. Expected Value
  466. Q&A 14.1
  467. Variance and Standard Deviation
  468. Managerial Implication Summarizing Risk
  469. 14.2 Attitudes Toward Risk
  470. Expected Utility
  471. Risk Aversion
  472. Q&A 14.2
  473. Using Calculus Diminishing Marginal Utility of Wealth
  474. Mini‐Case Stocks’ Risk Premium
  475. Risk Neutrality
  476. Risk Preference
  477. Mini‐Case Gambling
  478. Risk Attitudes of Managers
  479. 14.3 Reducing Risk
  480. Obtaining Information
  481. Mini‐Case Bond Ratings
  482. Diversification
  483. Managerial Implication Diversify Your Savings
  484. Insurance
  485. Q&A 14.3
  486. Mini‐Case Limited Insurance for Natural Disasters
  487. 14.4 Investing Under Uncertainty
  488. Risk‐Neutral Investing
  489. Risk‐Averse Investing
  490. Q&A 14.4
  491. 14.5 Behavioral Economics and Uncertainty
  492. Biased Assessment of Probabilities
  493. Mini‐Case Biased Estimates
  494. Violations of Expected Utility Theory
  495. Prospect Theory
  496. Managerial Implication Loss Aversion Contracts
  497. Managerial Solution BP’s Risk and Limited Liability
  498. Summary
  499. Questions
  500. Chapter 15 Asymmetric Information
  501. Managerial Problem Limiting Managerial Incentives
  502. 15.1 Adverse Selection
  503. Adverse Selection in Insurance Markets
  504. Products of Unknown Quality
  505. Q&A 15.1
  506. Q&A 15.2
  507. Mini‐Case Reducing Consumers’ Information
  508. 15.2 Reducing Adverse Selection
  509. Restricting Opportunistic Behavior
  510. Equalizing Information
  511. Managerial Implication Using Brand Names and Warranties as Signals
  512. Mini‐Case Discounts for Data
  513. Mini‐Case Adverse Selection and Remanufactured Goods
  514. 15.3 Moral Hazard
  515. Moral Hazard in Insurance Markets
  516. Moral Hazard in Principal‐Agent Relationships
  517. Mini‐Case Selfless or Selfish Doctors?
  518. Q&A 15.3
  519. 15.4 Using Contracts to Reduce Moral Hazard
  520. Fixed‐Fee Contracts
  521. Contingent Contracts
  522. Mini‐Case Sing for Your Supper
  523. Q&A 15.4
  524. 15.5 Using Monitoring to Reduce Moral Hazard
  525. Hostages
  526. Mini‐Case Capping Oil and Gas Bankruptcies
  527. Managerial Implication Efficiency Wages
  528. After‐the‐Fact Monitoring
  529. Managerial Solution Limiting Managerial Incentives
  530. Summary
  531. Questions
  532. Chapter 16 Government and Business
  533. Managerial Problem Licensing Inventions
  534. 16.1 Market Failure and Government Policy
  535. The Pareto Principle
  536. Cost‐Benefit Analysis
  537. 16.2 Regulation of Imperfectly Competitive Markets
  538. Regulating to Correct a Market Failure
  539. Q&A 16.1
  540. Mini‐Case Natural Gas Regulation
  541. Regulatory Capture
  542. Applying the Cost‐Benefit Principle to Regulation
  543. 16.3 Antitrust Law and Competition Policy
  544. Mergers
  545. Mini‐Case Are Monopoly Mergers Harmful?
  546. Predatory Actions
  547. Vertical Relationships
  548. Mini‐Case Piping Up about Exclusive Dealing
  549. 16.4 Externalities
  550. The Inefficiency of Competition with ‐Externalities
  551. Reducing Externalities
  552. Mini‐Case Pulp and Paper Mill Pollution and Regulation
  553. Q&A 16.2
  554. Mini‐Case Why Tax Drivers
  555. The Coase Theorem
  556. Managerial Implication Buying a Town
  557. 16.5 Open‐Access, Club, and Public Goods
  558. Open‐Access Common Property
  559. Mini‐Case Spam
  560. Club Goods
  561. Mini‐Case Piracy
  562. Public Goods
  563. 16.6 Intellectual Property
  564. Patents
  565. Q&A 16.3
  566. Managerial Implication Trade Secrets
  567. Copyright Protection
  568. Managerial Solution Licensing Inventions
  569. Summary
  570. Questions
  571. Chapter 17 Global Business
  572. Managerial Problem Responding to Exchange Rates
  573. 17.1 Reasons for International Trade
  574. Comparative Advantage
  575. Q&A 17.1
  576. Managerial Implication Brian May’s Comparative Advantage
  577. Increasing Returns to Scale
  578. Mini‐Case Barbie Doll Varieties
  579. 17.2 Exchange Rates
  580. Determining the Exchange Rate
  581. Exchange Rates and the Pattern of Trade
  582. Managerial Implication Limiting Arbitrage and Gray Markets
  583. Managing Exchange Rate Risk
  584. 17.3 International Trade Policies
  585. Quotas and Tariffs in Competitive Markets
  586. Mini‐Case Russian Food Ban
  587. Q&A 17.2
  588. Rent Seeking
  589. Noncompetitive Reasons for Trade Policy
  590. Mini‐Case Dumping and Countervailing Duties for Solar Panels
  591. Trade Liberalization and the World Trading System
  592. Trade Liberalization Problems
  593. 17.4 Multinational Enterprises
  594. Becoming a Multinational
  595. Mini‐Case What’s an American Car?
  596. International Transfer Pricing
  597. Q&A 17.3
  598. Mini‐Case Profit Repatriation
  599. 17.5 Outsourcing
  600. Managerial Solution Responding to Exchange Rates
  601. Summary
  602. Questions
  603. Answers to Selected Questions
  604. Definitions
  605. References
  606. Sources for Managerial Problems, Mini‐Cases, and Managerial Implications
  607. Index
  608. Credits

 

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Test Bank

Test Bank for Organic Chemistry Structure and Function, 6th Edition : Vollhardt

Original price was: $35.00.Current price is: $26.50.