Question 1: Describe the principal-agent problem as it relates to managers and workers.

Question 2: Discuss four tools the manager can use to mitigate incentive problems in the workplace.

Question 3: Calculate alternative measures of industry structure, conduct, and performance, and discuss their limitations.

Question 4: Describe examples of vertical, horizontal, and conglomerate mergers, and explain the economic basis for each type of merger.

Question 5: Explain the relevance of the Herfindahl- Hirschman index for antitrust policy under the horizontal merger guidelines.

Question 6: Describe the structure- conduct- performance paradigm, the feedback critique, and their relation to the five forces framework.

Question 7: Identify whether an industry is best described as perfectly competitive, a monopoly, monopolistically competitive, or an oligopoly.