oligopoly - Microeconomics I Kliknij aby edytowa styl...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
5/30/11 Kliknij, aby edytować styl wzorca podtytułu Microeconomics I January 15 Oligopoly
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
5/30/11 Market Structures Oligopoly: a small group of firms in a market with substantial barriers to entry Cartel : a group of firms that explicitly agree to coordinate their activities
Background image of page 2
5/30/11 Market Structures Oligopoly: a small group of firms in a market with substantial barriers to entry Firms pay attention to each other’s behavior in an oligopoly Each firm can influence the price and affect rival firm. Profit – maximization decision is more difficult in comparison with
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
5/30/11 Market Structures Cartel : a group of firms that explicitly agree to coordinate their activities Oligopolistic firms may act independently or coordinate their actions. Firms may agree on how much each firm will sell or on a common price.
Background image of page 4
5/30/11 Market Structures Monopolistic competition: a market structure in which firms have market power (the ability to raise price profitably above marginal cost) but no additional firm can enter and earn positive profits.
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
5/30/11 Properties of Monopoly, Oligopoly, Monopolistic Competition, and
Background image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/30/2011 for the course ACC 101 taught by Professor Worfy during the Winter '08 term at Akademia Ekonomiczna w Poznaniu.

Page1 / 18

oligopoly - Microeconomics I Kliknij aby edytowa styl...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online