WGU C216 STRATEGIC MANAGEMENT
CAPSTONE TASK TWO SCRIPT 2026 FULL
REQUIREMENTS AND ANSWERS GRADED
A+
⩥ economies of scale. Answer: the property whereby long-run average
total cost falls as the quantity of output increases
⩥ diseconomies of scale. Answer: the property whereby long-run
average total cost rises as the quantity of output increases
⩥ constant returns to scale. Answer: the property whereby long-run
average total cost stays the same as the quantity of output charges
⩥ competitive market. Answer: a market with many buyers and sellers
trading identical products so that each buyer and seller is a price taker
⩥ average revenue. Answer: total revenue divided by the quantity sold
⩥ marginal revenue. Answer: the change in total revenue from an
additional unit sold
,⩥ sunk cost. Answer: a cost that has already been committed and cannot
be recovered
⩥ monopoly. Answer: a firm that is the sole seller of a product without
close substitutes
⩥ natural monopoly. Answer: a monopoly that arises because a single
firm can supply a good or service to an entire market at a smaller cost
than could two or more firms
⩥ price discrimination. Answer: the business practice of selling the same
good at different prices to different customers
⩥ oligopoly. Answer: a market structure in which only a few sellers offer
similar or identical products
⩥ monopolistic competition. Answer: a market structure in which many
firms sell products that are similar but not identical
⩥ game theory. Answer: the study of how people behave in strategic
situations
⩥ collusion. Answer: an agreement among firms in a market about
quantities to produce or prices to charge
, ⩥ cartel. Answer: a group of firms acting in unison
⩥ Nash equilibrium. Answer: a situation in which economic actors
interacting with one another each choose their best strategy given the
strategies that all the other actors have chosen
⩥ prisoners' dilemma. Answer: a particular "game" between two
captured prisoners that illustrates why cooperation is difficult to
maintain even when it is mutually beneficial
⩥ dominant strategy. Answer: a strategy that is best for a player in a
game regardless of the strategies chosen by the other players
⩥ budget constraint. Answer: the limit on the consumption bundles that
a consumer can afford
⩥ indifference curve. Answer: a curve that shows consumption bundles
that give the consumer the same level of satisfaction
⩥ marginal rate of substitution. Answer: the rate at which a consumer is
willing to trade one good for another
CAPSTONE TASK TWO SCRIPT 2026 FULL
REQUIREMENTS AND ANSWERS GRADED
A+
⩥ economies of scale. Answer: the property whereby long-run average
total cost falls as the quantity of output increases
⩥ diseconomies of scale. Answer: the property whereby long-run
average total cost rises as the quantity of output increases
⩥ constant returns to scale. Answer: the property whereby long-run
average total cost stays the same as the quantity of output charges
⩥ competitive market. Answer: a market with many buyers and sellers
trading identical products so that each buyer and seller is a price taker
⩥ average revenue. Answer: total revenue divided by the quantity sold
⩥ marginal revenue. Answer: the change in total revenue from an
additional unit sold
,⩥ sunk cost. Answer: a cost that has already been committed and cannot
be recovered
⩥ monopoly. Answer: a firm that is the sole seller of a product without
close substitutes
⩥ natural monopoly. Answer: a monopoly that arises because a single
firm can supply a good or service to an entire market at a smaller cost
than could two or more firms
⩥ price discrimination. Answer: the business practice of selling the same
good at different prices to different customers
⩥ oligopoly. Answer: a market structure in which only a few sellers offer
similar or identical products
⩥ monopolistic competition. Answer: a market structure in which many
firms sell products that are similar but not identical
⩥ game theory. Answer: the study of how people behave in strategic
situations
⩥ collusion. Answer: an agreement among firms in a market about
quantities to produce or prices to charge
, ⩥ cartel. Answer: a group of firms acting in unison
⩥ Nash equilibrium. Answer: a situation in which economic actors
interacting with one another each choose their best strategy given the
strategies that all the other actors have chosen
⩥ prisoners' dilemma. Answer: a particular "game" between two
captured prisoners that illustrates why cooperation is difficult to
maintain even when it is mutually beneficial
⩥ dominant strategy. Answer: a strategy that is best for a player in a
game regardless of the strategies chosen by the other players
⩥ budget constraint. Answer: the limit on the consumption bundles that
a consumer can afford
⩥ indifference curve. Answer: a curve that shows consumption bundles
that give the consumer the same level of satisfaction
⩥ marginal rate of substitution. Answer: the rate at which a consumer is
willing to trade one good for another
