1. What are the four main types of process innovation? 2. What is the shut-down

Question

1. What are the four main types of process innovation? 2. What is the shut-down point that we discussed in perfect competition models? 3. Name at least three sources of market power that we discussed in monopoly models. 4. Name the four forms of product differentiation that we discussed in monopolistic competition models. 5. What is interdependence that we discussed in the oligopoly models? 6. Compare dominant strategy and the Nash equilibrium? (from oligopoly models) 7. What is a cartel, and what is joint profit maximization? (from oligopoly models) 8. What is tacit collusion? What practices are used to facilitate tacit collusion that we discussed in the oligopoly models? 9. Pick three pricing strategies and describe/define them. Choose from: Mark-up pricing, price discrimination, personalized pricing, group pricing, versioning, bundling, promotional pricing, or two-part pricing. 10. What are the three thematic problems with price discrimination? 11. What are the two requirements for price discrimination? 12. What are some of the constraints of price discrimination?

Explanation / Answer

The four main types of process innovation are:

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