TAILIEUCHUNG - Ebook Principles of microeconomics (12th edition): Part 2

(BQ) Part 2 book "Principles of microeconomics" has contents: Monopoly and antitrust policy, oligopoly, monopolistic competition, uncertainty and asymmetric information, income distribution and poverty, income distribution and poverty, economic growth in developing economies,.and other contents. | Part III Market IMperfectIons and the role of GovernMent Monopoly and Antitrust Policy 13 Chapter Outline and learning ObjeCtives Imperfect Competition and Market Power: Core Concepts p. 298 Explain the fundamentals of imperfect competition and market power. Price and Output Decisions in Pure Monopoly Markets p. 299 Discuss revenue and demand in monopolistic markets. The Social Costs of Monopoly p. 309 Explain the source of the social costs for a monopoly. Price Discrimination p. 312 In 1911 the . Supreme Court found that Standard Oil of New Jersey, the largest oil company in the United States, was a monopoly and ordered that it be divided up. In 1999 a . court similarly found that Microsoft had exercised monopoly power and ordered it to change a series of its business practices. From 2010 to early 2013 the Federal Trade Commission—one of the government agencies empowered to protect consumers—investigated whether Google possessed monopoly power and should also be restrained by the government in its business practices. What do we mean by a monopoly, and why might the government and the courts try to control monopolists? Have our ideas on what constitutes a monopoly changed over time with new technology? In previous chapters, we described in some detail the workings and benefits of perfect competition. Market competition among firms producing undifferentiated or homogeneous products limits the choices of firms. Firms decide how much to produce and how to produce, but in setting prices, they look to the market. Moreover, because of entry and competition, firms do no better than earn the opportunity cost of capital in the long run. For firms such as Google and Microsoft, economic decision making is richer and so is the potential for profit making. In the next three chapters, we explore markets in which competition is limited, either by the fewness of firms or by product differentiation. After a brief discussion .

• Kinh tế học
• Principles of microeconomics
• Antitrust policy
• Monopolistic competition
• Asymmetric information
• Income distribution
• Income distribution
• Developing economies
• Lecture Principles of microeconomics
• Ten principles of economics
• Scarce resources
• Scarcity implies choice
• Choice implies cost
• Thinking like an economist
• Economic models
• Circular flow diagram
• Production possibilities frontier
• The gains from trade
• Production possibilities
• Comparative advantage
• Absolute advantage
• Market forces
• Supply and demand
• Market economies
• Competitive markets
• Price elasticity of demand
• Price elasticity
• Midpoint method
• Demand curves
• Controls on prices
• Price ceiling
• Price floor
• Market outcomes
• Market failures
• Negative externalities
• Positive externalities
• Market inefficiency
• Public goods
• Common resources
• Types of goods
• Cost benefit analysis
• Tax system
• Federal government
• Marginal tax rate
• Budget surplus
• Costs of production
• Total revenue
• Total cost
• Opportunity costs
• Firms in competitive markets
• Average revenue
• Marginal revenue
• Sunk costs
• Monopoly resources
• Government created monopolies
• Natural monopolies
• Monopoly’s revenue
• Nash equilibrium
• Equilibrium for oligopoly
• Game theory
• Long run equilibrium
• Perfect competition
• Production possibility frontier
• Opportunity cost
• Rational people
• Indirect effects
• Law of demand
• Factors change demand
• Law of supply
• Market demand
• Demand intersect
• Demand determine prices
• Change in demand
• Change in supply
• Elastic demand curve
• Policy analysis with supply
• Policy analysis with demand
• Wealth creation
• Production cost
• Total surplus
• International trade
• Additional benefits of trade
• Average costs
• Break even price
• Increasing marginal costs
• Long run analysis
• Firms profit graphically
• Accounting profit
• Market effectiveness
• Monopolist pricing
• Price discrimination
• Antitrust laws
• Disruptive innovation in oligopolies
• Predatory pricing