Question 1: Discuss the economic trade- offs associated with obtaining inputs through spot exchange, contract, or vertical integration.

Question 2: Identify four types of specialized invest-ments, and explain how each can lead to costly bargaining, underinvestment, and/ or a " hold- up problem."

Question 3: Explain the optimal manner of procuring different types of inputs.

Question 4: Describe the principal- agent problem as it relates to owners and managers.

Question 5: Discuss three forces that owners can use to discipline managers.

Question 6: Describe the principal- agent problem as it relates to managers and workers.

Question 7: Discuss four tools the manager can use to mitigate incentive problems in the workplace.

Question 8: Calculate alternative measures of industry structure, conduct, and performance, and discuss their limitations.

Question 9: Describe examples of vertical, horizontal, and conglomerate mergers, and explain the economic basis for each type of merger.

Question 10: Explain the relevance of the Herfindahl- Hirschman index for antitrust policy under the horizontal merger guidelines.

Question 11: Describe the structure- conduct- performance paradigm, the feedback critique, and their relation to the five forces framework.

Question 12: Identify whether an industry is best described as perfectly competitive, a monopoly, monopolistically competitive, or an oligopoly.