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April 5 _ 7 - P 1 P 2 Econ 100A – Microeconomics...

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x p Econ 100A – Microeconomics Professor Sarah Reynolds Department of Economics University of California, Berkeley Textbook by Thomas Nechyba Monopoly Chapter 23 – April 5 th , 2011 Monopoly Profit Maximization: Profit Maximization Graphically: (Where is the deadweight loss?)
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x x p p x x p p Profit Maximization with a kinked demand curve Barriers to Entry, Natural Monopolies & solutions to the Deadweight Loss
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x x p p x p Price Discrimination ` First Degree `Third Degree Second Degree
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Unformatted text preview: P 1 P 2 Econ 100A – Microeconomics Professor Sarah Reynolds Department of Economics University of California, Berkeley Textbook by Thomas Nechyba Oligopoly Chapter 25 – April 7 st , 2011 Oligopoly Bertrand Price Competition Best response functions x x 2 p x 1 Cournot Quantity Competition Profit Maximization Gives the Best Response function Simultaneous Moving: Profits: Stackleberg Competition & the First Mover Advantage Player 1 anticipates Player 2’s response: Profits:...
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