-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
1/15
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
2/15
Imperfect Competition
and Monopoly
Chapter 9
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
3/15
Main topics:
Patterns of imperfect competition
Varieties
Sources
Marginal revenue & monopoly
Marginal revenue ree!amined
Profit ma!imi"ation
#he marginal principle
$%et the past e past'
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
4/15
(cid #est for Imperfect Competition Is
)o*n*ard #ilt of +irm,s )emand Curve
Chapter 9
Figure 9-1
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
5/15
Patterns of imperfect competition
Varieties
Monopolistic competition
-ligopoly
Monopoly
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
6/15
Chapter 9
Table 9-1
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
7/15
Sources of imperfect competition
Mar.et si"e & economic volume
/elative cost & demand factors
0arriers to entry %egal restrictions
1igh cost of entry
Product differentiation Product variation
(dvertising2 rands2 etc
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
8/15
Chapter 9
Table 9-21
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
9/15
Mar.et Structure )epends on
/elative Cost and )emand +actors
Chapter 9
Figure 9-2
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
10/15
Marginal revenue & monopoly
Marginal revenue
In imperfect competition
Profit ma!imi"ation /evenue ma!imi"ation: M/ 3 4
Profit ma!imi"ation: M/ 3 MC
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
11/15
Chapter 9
Table 9-3
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
12/15
Marginal /evenue Curve Comes
from )emand Curve
Chapter 9
Figure 9-3
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
13/15
Chapter 9
Table 9-5
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
14/15
ProfitMa!imi"ing 56uilirium Can 0e
Sho*n 7sing 5ither #otal or Marginal
Curves
Chapter 9
Figure 9-4
-
7/26/2019 Imperfect Competition & Monopoly - Chapter 9
15/15
Chapter 9
Table 9-4
