E303lect38F09

E303lect38F09 - December 2, 2009 HW 13 Collect HW 14...

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December 2, 2009 HW 13 Collect HW 14 Posted. Due Friday . Final : Wednesday Dec 9, 8:30-11:30 a.m. Bring a pencil, and a 4 function calculator Lecture 38 REVIEW___________________________________________________: Chapter 8. The Firm in Competition. A. Competition. 1. Short Run 2. Intermediate Run 3. Long Run (variable plant size) 4. An analytical example B. Monopoly 1. The difference between monopoly and competitive markets. PREVIEW_____________________________________________________ 2. Reasons for Monopoly 3. Characterizing the problem for the Monopolist 4. The Social Cost of Monopoly 5. An analytical example 6. Optimal Pricing with limited Information Lecture______________________________________________________________. B . Monopoly. Now we turn our attention to the case exactly opposite to the competitor: The monopolist. The insight critical to understanding monopoly is that for one reason or another (reasons that we will discuss momentarily) the monopolist is the market. Cost conditions, on the other hand do not
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E303lect38F09 - December 2, 2009 HW 13 Collect HW 14...

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