Define ‘Learning and Development’ and discuss the major elements in the process of learning

Highlight the various steps in recruitment.

A game may have multiple Nash equilibria or none at all.Do you agree? Give reason.

Discuss the concept of Excess capacity associated with the monopolistic competition.

Compare and contrast the Benthamite welfare function with the Rawlsian welfare function.

Differentiate between Signalling and Screening as solutions to problem of asymmetric information.

What is the role of price elasticity of demand in applying the third-degree price discrimination?

A monopolist operates under two plants, 1 and 2. The marginal costs of the two plants are given by

where Q1 and Q2 represent units of output produced by plant 1 and 2 respectively. If the price of this product is given by 20 – 3(Q1 + Q2), how much should the firm plan to produce in each plant, and at what price should it plan to sell the product?

Discuss the situation when the price mechanism fails to allocate resources efficiently. What could be possible ways to correct such a failure?

Consider an Edgeworth box that describes a two-person, two-commodity exchange scenario. Explain how trade takes place between the two individuals starting from the initial endowment position. What is the significance of the slope of the ray passing through a Pareto optimal point and the endowment point?

What will be the Subgame Perfect Nash equilibria for the given game?

Consider the following game.

(i) Can Backward induction be applied in this game to find a solution? Why or why not?

What is meant by a Subgame Perfect Nash equilibrium?

How would you differentiate a Static game from a Dynamic game?

What will be the outcome if the firms decide to collude? Compare it with the results under the Cournot equilibrium.

Heckscher-Ohlin theory of international trade begins where the Ricardian theory of international trade ends. Elucidate.

With regards the Kinked demand curve theory given by Paul Sweezy, answer the following:

(i) The demand curve facing an oligopolist has a kink at the level of the prevailing price. Discuss. 

(ii) Why does the slope of the demand curve vary on the both sides of the kink? Give reason

Consider a market structure comprising two identical firms (A and B), each with the cost function given by

Ci = 30Qi , where Qi fori = {A, B} is output produced by each firm.

Market demand is given by

(i) Find Cournot equilibrium

Compare and contrast the Cournot model with the Stackelberg model of Duopoly.

Compare and contrast the Cournot model with the Stackelberg model of Duopoly.