Week%208%20Session%202209

Week%208%20Session%202209 - Microeconomics 1 Econ 1101 Week...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Microeconomics 1 Econ 1101 Week 8 Monopoly and other Forms of Imperfect Competition Text: Ch 10 Outline: Market Power Barriers to entry Profit Maximising Monopolist Monopolistic Competition Price discrimination Natural Monopoly 1 Diane Enahoro Session 2 2009
Background image of page 1

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

View Full DocumentRight Arrow Icon
Imperfect Competition - Market Power –the ability to alter price Price Quantity per week 2 Diane Enahoro Session 2 2009 Quantity per Week Price Demand Demand for perfect Competitor Demand Demand for imperfect Competitior
Background image of page 2
Market Structures 3 Diane Enahoro Session 2 2009 Perfect Competition Monopoly Monopolistic Competition Oligopoly Duopoly Pure Monopoly single firm producing with no close substitutes Oligopoly a few firms producing goods that are close substitutes - interdependent Monopolistic competition a large number of firs producing goods that are slightly differentiated but are reasonable close substitutes
Background image of page 3

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

View Full DocumentRight Arrow Icon
4 Diane Enahoro Session 2 2009 Barriers to entry (and exit) which give market power 1. Exclusive control over important inputs 2. Government Created monopoly
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 17

Week%208%20Session%202209 - Microeconomics 1 Econ 1101 Week...

This preview shows document pages 1 - 5. Sign up to view the full document.

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