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Economics 952
Managerial Economics

Take-home problem sets


Assignment #1 (pre-course) - Due Tue, Aug 18.
This assignment is to be completed online.

Problem set #2 - Due Tue, Aug 25.
Click here to access the problem set. Some of the questions are based on this WSJ article. For those still waiting for the book to arrive, the textbook problems are here.

Problem set #3 - Due Tue, Sep 1.
Click here to access the problem set.
The data sets for this assignment are here or on D2L.
For the audio file, see D2L.

Problem set #4 - Due Tue, Sep 8.
Click here to access the problem set.

Problem set #5 - Due Tue, Sep 15.
I. Problem 5 on p.192 in the text.
II. Problem 15 on p.195. Do it using the marginal approach! Show your work.
Additional question: according to the data at what point do diminishing marginal returns set in?
III. Review the "Test Review" handout and bring your questions to class.

Problem set #6 (optional, can be turned in for extra credit) on Tue, Sep 22.
I. Problem 2 on p.303.
II. Problem 4 on p.305.


Problem set #7 - Due Tue, Sep 29.

Read the articles (1, 2, and 3) related to Apple iPhone pricing and provide your analysis of the case, typed. Make sure you address the following questions:
1. Did Apple make an error picking the starting price for the iPhone, in your opinion? Explain.
2. Was the sharp drop in price a mistake by Apple, or was it premeditated? Provide arguments supporting your position. It is not a bad idea to discuss the drop in general separately from its size.
3. What can we learn from this example?
* If this was an error, how can a firm minimize the occurrence of such errors while pricing new products?
* If this was a carefully planned strategic move, and we want to create a ‘playbook’ based on this case, how would you formulate the principles of this strategy?
4. If you are facing an unknown market demand and have to experiment with prices in search of your optimal price, is it better to make a mistake by pricing too high or by pricing too low? Please discuss both short-term and long-term implications.
5. What is your opinion of the way in which Apple handled customer dissatisfaction resulting from the price drop? What other solutions could you recommend?

Problem set #8 - Due Tue, Oct 20.
I. Problem 3 on p.426.
II. Problem 4 on p.426.
III. Problem 7 on p.427.
IV. Problem 10 on p.427.
V. Problem 18 on p.429. Before proceeding to answering the question(s) in this problem, check if each of the four price discrimination conditions holds and state your conclusions along with brief explanations.

Problem set #9 - Due Tue, Oct 27.
I. Problem 5 on p.426 in the text.
II. Problem 6 on pp.426-427.
III. Problem 1 on p.386.
IV. Problem 13 on pp.389-390.
V. Times Warner Memo 7 on p.570. (Try setting it up as a game. Two things to think about: - is it a simultaneous move game or a sequential game? and - what is the best way to "keep score"? In other words, what should the payoffs be?)

Problem set #10 (optional, extra credit) - Due Tue, Nov 3.
I. Repeated game problem, handed out in class.

Problem set #11 - Due Tue, Nov 10.
I. Problem 1 on pp.466-467 in the text.
II. Optional extra-credit assignments on pricing strategies, distributed in class.

Problem set #12 - Due Tue, Nov 17.
I. Problem 1 on pp.466-467 in the text.
II. Optional extra-credit assignments on pricing strategies, distributed in class.

Problem set #13 - Due Tue, Nov 24.
I. Repeated game problem.
II. Problem 2 on p.467.
III. Problem 4 on pp.467-468.
IV. Problem 12 on p.469.
+ Phase 4 of the team project.

Problem set #14 - Due Tue, Dec 1.
I.
II.
III.


 

 






 

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