17

Monopolistic Competition ,[object Object]

The Four Types of Market Structure Copyright © 2004 South-Western • Tap water • Cable TV Monopoly (Chapter 15) • Novels • Movies Monopolistic Competition (Chapter 17) • Tennis balls • Crude oil Oligopoly (Chapter 16) Number of Firms? Perfect • Wheat • Milk Competition (Chapter 14) Type of Products? Identical products Differentiated products One firm Few firms Many firms

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

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

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

COMPETITION WITH DIFFERENTIATED PRODUCTS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Figure 1 Monopolistic Competition in the Short Run Copyright©2003 Southwestern/Thomson Learning Quantity 0 Price (a) Firm Makes Profit Profit- maximizing quantity Price Demand MR ATC Average total cost Profit MC

Figure 1 Monopolistic Competitors in the Short Run Copyright©2003 Southwestern/Thomson Learning Quantity 0 Price (b) Firm Makes Losses Demand Price Loss- minimizing quantity Average total cost MR Losses ATC MC

The Long-Run Equilibrium ,[object Object]

Long-Run Equilibrium ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Monopolistic versus Perfect Competition ,[object Object]

Monopolistic versus Perfect Competition ,[object Object],[object Object],[object Object],[object Object],[object Object]

Figure 3 Monopolistic versus Perfect Competition Copyright©2003 Southwestern/Thomson Learning Quantity 0 Price (a) Monopolistically Competitive Firm Quantity 0 Price (b) Perfectly Competitive Firm Demand P = MC P = MR (demand curve) MC ATC MC ATC MR Efficient scale P Quantity produced Quantity produced = Efficient scale

Monopolistic versus Perfect Competition ,[object Object],[object Object],[object Object],[object Object]

Figure 3 Monopolistic versus Perfect Competition Copyright©2003 Southwestern/Thomson Learning Quantity 0 Price (a) Monopolistically Competitive Firm Quantity 0 Price (b) Perfectly Competitive Firm Demand P = MC P = MR (demand curve) Markup MC ATC MC ATC MR Marginal cost P Quantity produced Quantity produced

Figure 3 Monopolistic versus Perfect Competition Copyright©2003 Southwestern/Thomson Learning Quantity 0 Price (a) Monopolistically Competitive Firm Quantity 0 Price (b) Perfectly Competitive Firm Demand P = MC P = MR (demand curve) Markup Excess capacity MC ATC MC ATC MR Marginal cost Efficient scale P Quantity produced Quantity produced = Efficient scale

Monopolistic Competition and the Welfare of Society ,[object Object]

Monopolistic Competition and the Welfare of Society ,[object Object],[object Object]

Monopolistic Competition and the Welfare of Society ,[object Object],[object Object],[object Object]

Monopolistic Competition and the Welfare of Society ,[object Object],[object Object],[object Object],[object Object]

ADVERTISING ,[object Object],[object Object]

ADVERTISING ,[object Object],[object Object],[object Object]

Brand Names ,[object Object],[object Object],[object Object]

Summary ,[object Object],[object Object]

Summary ,[object Object],[object Object],[object Object]

17

Empfohlen

Empfohlen

Weitere ähnliche Inhalte

Was ist angesagt?

Was ist angesagt? (20)

Andere mochten auch

Andere mochten auch (20)

Ähnlich wie 17

Ähnlich wie 17 (20)

Mehr von Max Scott

Mehr von Max Scott (20)

Kürzlich hochgeladen

Kürzlich hochgeladen (20)

17