Ch16 - -hapter ¡¢$ 3onopolistic-ompetition MONOPOL0ST0*...

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Unformatted text preview: -hapter ¡¢$ 3onopolistic-ompetition MONOPOL0ST0* *OMP,T0T0ON /xamples of 3onopolistic -ompetition WMJ HQRWMJV \RX ZJFU¡ WMJ KUFSSFHHNqRV WMJ\ VQXUS XS Rq \RXU ZF\ WR HQFVV¡ WMJ rFLF]NqJV \RX UJFI¡ WMJ qNLMWHQXGV ZMJUJ \RX IFqHJ¢ MONOPOL0ST0* *OMP,T0T0ON /n this chapter¡ look for the answers to these questions$ <MFW RFUPJW VWUXHWXUJV QNJ GJWZJJq SJUKJHW HrRSJWNWNrq FqI RrqrSrQ\¡ FqI ZMFW FUJ WMJNU HMFUFHWJUNVWNHV$-rZ Ir RrqrSrQNVWNHFQQ\ HrRSJWNWNYJ KNURV HMrrVJ SUNHJ FqI TXFqWNW\$ )r WMJ\ JFUq JHrqrRNH SUrKNW$ /q ZMFW ZF\V IrJV RrqrSrQNVWNH HrRSJWNWNrq FKKJHW VrHNJW\¸V ZJQKFUJ$ <MFW FUJ WMJ VrHNFQ HrVWV FqI GJqJKNWV rK FIYJUWNVNqL$ MONOPOL0ST0* *OMP,T0T0ON /ntroduction$ ,etween 3onopoly and -ompetition Two extremes 5JUKJHW HRrSJWNWNRQ( rFQ\ KNUrV¡ NIJQWNHFq SURIXHWV 3RQRSRq\( RQJ KNUr 0n between these extremes+ imperfect competition 5ligopoly ( RQq\ F KJZ VJqqJUV RKKJU VNrNqFU RU NIJQWNHFq SURIXHWV¢ 3onopolistic competition ( rFQ\ KNUrV VJqq VNrNqFU GXW QRW NIJQWNHFq SURIXHWV¢ ¡ MONOPOL0ST0* *OMP,T0T0ON-haracteristics ¡ /xamples of 3onopolistic -ompetition (MFUFHWJUNVWNHV¡ 3FQ\ VJqqJUV 5URIXHW INKKJUJQWNFWNRQ +UJJ JQWU\ FQI J[NW *[FrSqJV¡ FSFUWrJQWV GRRPV GRWWqJI ZFWJU HqRWMNQL KFVW KRRI QNLMW HqXGV ¢ MONOPOL0ST0* *OMP,T0T0ON-omparing 6erfect ¡ 3onop¢ -ompetition \JV QRQJ¡ SUNHJ¢WFPJU KNUr MFV rFUPJW SRZJU$ IRZQZFUI¢ VqRSNQL MRUN]RQWFq + HXUYJ KFHNQL KNUr INKKJUJQWNFWJI NIJQWNHFq WMJ SURIXHWV KNUrV VJqq ]JUR ]JUR qRQL¢UXQ JHRQ£ SURKNWV \JV \JV KUJJ JQWU\¤J[NW rFQ\ rFQ\ QXrGJU RK VJqqJUV 3onopolistic competition 6erfect competition £ MONOPOL0ST0* *OMP,T0T0ON-omparing 3onopoly ¡ 3onop¢ -ompetition \JV \JV KNUR MFV RFUPJW SrZJU$ IrZQZFUI¡ VqrSNQL IrZQZFUI¡ VqrSNQL ¢RFUPJW IJRFQI£ + HXUYJ KFHNQL KNUR RFQ\ QrQJ HqrVJ VXGVWNWXWJV ]JUr SrVNWNYJ qrQL¡UXQ JHrQ¤ SUrKNWV \JV Qr KUJJ JQWU\¥J[NW RFQ\ rQJ QXRGJU rK VJqqJUV 3onopolistic competition 3onopoly £ MONOPOL0ST0* *OMP,T0T0ON + 3onopolistically -ompetitive ¡irm /arning 6rofits in the 9hort 8un 9MJ KNUR KFHJV F IrZQZFUI¡VqrSNQL + HXUYJ¢ &W JFHM D £ MR * P ¢ 9r RF[NRN]J SUrKNW£ KNUR SUrIXHJV D ZMJUJ MR + M*¡ 9MJ KNUR XVJV WMJ + HXUYJ Wr VJW P ¢ SUrKNW (T* 6 6XFQWNW\ 5UNHJ (T* + MR M* D ¢ MONOPOL0ST0* *OMP,T0T0ON...
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This note was uploaded on 03/22/2011 for the course ECON 200 taught by Professor Ta during the Spring '07 term at University of Washington.

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Ch16 - -hapter ¡¢$ 3onopolistic-ompetition MONOPOL0ST0*...

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