Lecture+18+November+9

Lecture+18+November+9 - Todays agenda Models of imperfect...

Info icon This preview shows pages 1–11. Sign up to view the full content.

View Full Document Right Arrow Icon
Today’s agenda Models of imperfect competition Monopolistic competition Oligopoly
Image of page 1

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

View Full Document Right Arrow Icon
When a firm with monopoly power is maximizing profit, A. P = SATC > SMC B. P = SMC > MR C. P > MR = SMC D. P = SMC = SATC E. P > MR = SATC
Image of page 2
Multiplant monopoly Plants 1 and 2 have different cost functions How should the firm allocate production between the plants?
Image of page 3

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

View Full Document Right Arrow Icon