Nov 9 and 11 Imperfect Competition Models

Nov 9 and 11 Imperfect Competition Models - Imperfect...

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Unformatted text preview: Imperfect Competition Market Structure Models (11/9/10) MARKET STRUCTURE, COMPETITIVE MODELS (Schrimper, Chapter 7) PERFECT COMPETITION www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=perfect+competition IMPERFECT COMEPETITION MODELS , (Schrimper, Chapter 7) Monopoly : www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=monopoly Monopolistic Competition: www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=monopolistic+competition Oligopoly : www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=oligopoly AEC 305, Food and Agricultural Marketing Principles AEC 305, Food and Agricultural Marketing Principles Alternative Market Structure Models Perfect Competition/C ompetitive Monopolistic Competition Oligopoly Monopoly Perfect Competition/ Competitive Monopsonistic Competition Oligopsony Monopsony AEC 305, Food and Agricultural Marketing Principles AEC 305, Food and Agricultural Marketing Principles Seller Side Buyer Side Comparisons of Industry Market Structures Characteristics Perfect Competition Monopolistic Competition Oligopoly Oligopsony Monopoly Monopsony Number of Buyers/Sellers (very large number, many, few, one) Product Differentiation (Homogeneous, Slightly Differentiated, Unique) Ease of Entry/Exit (Easy, Relatively Easy Difficult, Difficult, Closed) Degree of Info Available to Competitors (Perfect, A lot, Limited, None) Influence on Price (yes or no) Very large # Many Few One Homogenous Slightly Homogeneous Unique Differentiated or Differentiated Easy Relatively Difficult Blocked Easy or Closed Perfect A Lot Limited None, Unless Regulated No Yes, But Ltd by Yes Yes Price Taker # of Substitutes Price Maker Price Maker Market Structure, Conduct, and Performance AEC 305, Food and Agricultural Marketing Principles AEC 305, Food and Agricultural Marketing Principles Market Structure # of Buyers and Sellers Product Similarity Ease of Entry/Exit Info Available Market Conduct Price Decisions Non Price Decisions (product development, advertising/promotion) Quantity Decisions...
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This note was uploaded on 01/13/2011 for the course AEC aec 305 taught by Professor Dr.williamm.snell during the Spring '10 term at Kentucky.

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Nov 9 and 11 Imperfect Competition Models - Imperfect...

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