Monopolistic And Oligopoly

Monopolistic Competition ,[object Object],[object Object],[object Object],[object Object],[object Object]

Exhibit 1a: Maximizing Short-Run Profit ,[object Object],[object Object]

Exhibit 1b: Minimizing Short-Run Loss ,[object Object],[object Object]

Zero Economic Profit in the Long Run ,[object Object],[object Object],[object Object]

Exhibit 2: Long-run Equilibrium p 0 q MC ATC MR D a b Quantity per period ,[object Object],[object Object],[object Object],Dollars per unit

Exhibit 3: Perfect Competition versus Monopolistic Competition ,[object Object],[object Object]

Comparison ,[object Object],[object Object],[object Object]

Comparison ,[object Object],[object Object]

Oligopoly ,[object Object],[object Object]

Varieties of Oligopoly ,[object Object],[object Object],[object Object]

Exhibit 4: Economies of Scale as a Barrier to Entry c a c b Autos per year S b a Long-run average cost 0 ,[object Object],[object Object],M D o l l a r s p e r u n i t

High Costs of Entry ,[object Object],[object Object],[object Object]

Models of Oligopolies ,[object Object],[object Object],[object Object]

Collusion ,[object Object],[object Object],[object Object]

Exhibit 5: Cartel as a Monopolist ,[object Object],[object Object]

Differences in Cost ,[object Object],[object Object],[object Object]

Number of Firms in the Cartel ,[object Object],[object Object]

New Entry Into the Industry ,[object Object],[object Object]

Cheating ,[object Object],[object Object],[object Object]

Price Leadership ,[object Object],[object Object],[object Object]

Price Leadership ,[object Object],[object Object],[object Object],[object Object],[object Object]

Game Theory ,[object Object],[object Object],[object Object]

Payoff Matrix ,[object Object],[object Object],[object Object]

Exhibit 6: Payoff Matrix ,[object Object],[object Object]

Price Setting Game ,[object Object],[object Object],[object Object]

Price Setting Game ,[object Object],[object Object],[object Object],[object Object],[object Object]

Exhibit 7: Price-Setting Payoff Matrix ,[object Object],[object Object],[object Object],[object Object],[object Object]

One-Shot versus Repeated Games ,[object Object],[object Object],[object Object]

One-Shot versus Repeated Games ,[object Object],[object Object]

Exhibit 8: Cola War Payoff Matrix ,[object Object],[object Object],[object Object],[object Object]

Tit-for-Tat Strategy ,[object Object],[object Object],[object Object],[object Object]

Oligopoly and Perfect Competition ,[object Object],[object Object],[object Object]

Comparison of Market Structures

Monopolistic And Oligopoly

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Monopolistic And Oligopoly