Recent Tutoring Session Reviews
"Today the student and I did another practice test, covering material from chapters 16, 18, 19, and chapter 8 for review. It was a mixture of questions from our previous test and new questions. The student showed good progress, getting an 86% on this test and completing it in plenty of time (up from 80% last time). All of the questions he answered incorrectly on the last test, he answered correctly here. The only misses were from the new material in chapter 19, which we hadn't gone over in depth yet. After getting a chance to review the book and discuss the concepts of economic rent analysis, he was able to identify the correct answers on a second go around."
"We reviewed monopolies and oligopolies. We reviewed the assumptions of each. We reviewed the graphs and curves associated with a Monopoly, the Demand curve, MR, MC, ATC curves, determined where monopoly chooses their quantity, sets their price, how they price discriminate, and where they stop. We discussed oligopolies, their incentive to collude, and their incentive to cheat. We explored payoff matrices, the Nash equilibrium, and how oligopolistic firms choose their strategies."
"We worked on indifference lines and mapping, the budget line, how to derive a demand curve for products from the budget line and the indifference curves. They will be working on more questions and will email notes about the work to me tomorrow."