econ 102 ch. 16

econ 102 ch. 16 - Think movies and computer games...

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Oligopoly Market structure in which only a few sellers offer identical or similar products Monopolistic competition Many firms sell products which are similar but not identical Each firm has a monopoly over the product it makes Many other firms make similar products that compete for the same customers
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Unformatted text preview: Think movies and computer games Welfare-maximizing level of output corresponds to output where total surplus is maximized In long-run, this occurs where mc curve equals atc curve...
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This note was uploaded on 07/29/2009 for the course ECON 102 taught by Professor Clague during the Spring '08 term at San Diego State.

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