TAILIEUCHUNG - Lecture Understanding economics (2nd edition): Chapter 6 - Mark Lovewell, Khoa Nguyen

Chapter 6 - Monopoly and imperfect competition. In this chapter you will: Consider the demand conditions faced by monopolists, monopolistic competitors, and oligopolists; see how monopolists, monopolistic competitors, and oligopolists maximize profits; learn about nonprice competition, and the arguments over industrial concentration. | Understanding Economics Chapter 6 Monopoly and Imperfect Competition Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. 2nd Edition by Mark Lovewell and Khoa Nguyen Chapter Objectives In this chapter you will: consider the demand conditions faced by monopolists, monopolistic competitors, and oligopolists see how monopolists, monopolistic competitors, and oligopolists maximize profits learn about nonprice competition, and the arguments over industrial concentration Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. * Copyright © 2002 by McGraw-Hill Ryerson Limited. All rights reserved. Monopolist’s Demand A monopolist’s demand curve is the same as for the entire market it is downward sloping * Demand Faced by a Monopolist Figure , Page 138 Demand Schedule for Megacomp Quantity Demanded (computers per year) Price ($ millions per computer) 160 120 80 1 2 3 0 1 2 3 4 Quantity (computers per year) Demand Curve for Megacomp Price ($ millions per .

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• Understanding economics
• Lecture Understanding economics
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