TAILIEUCHUNG - Lecture Microeconomics: Theory and applications (12th edition): Chapter 13 - Browning, Zupan

Chapter 13 - Monopolistic competition and oligopoly. In this chapter students will be able to: Explain how price and output are determined under monopolistic competition, describe the characteristics of oligopoly and the cournot model, compare several key noncooperative oligopoly models; including Stackelberg and the dominant firm;. | MICROECONOMICS: Theory & Applications By Edgar K. Browning & Mark A. Zupan John Wiley & Sons, Inc. 12th Edition, Copyright 2015 Chapter 13: Monopolistic Competition and Oligopoly Prepared by Dr. Della Lee Sue, Marist College Learning Objectives Explain how price and output are determined under monopolistic competition. Describe the characteristics of Oligopoly and the Cournot Model. Compare several key noncooperative oligopoly models, including Stackelberg and the dominant firm. Show how price and output are determined under the cooperative oligopoly model of cartels. PRICE AND OUTPUT UNDER MONOPOLISTIC COMPETITION Explain how price and output are determined under monopolistic competition. Price and Output Under Monopolistic Competition Monopolistic competition – a market characterized by: unrestricted entry and exit a large number of independent sellers producing differentiated products Differentiated product – a product that consumers view as different from other .

• Kinh tế học
• Microeconomics theory
• Microeconomics applications
• Lecture Microeconomics
• Kinh tế vĩ mô
• Monopolistic competition
• Cournot model
• Scope of microeconomic theory
• Normative analyses
• Consumer choice
• Theory of consumer choice
• Consumer choice theory
• Excise subsidies
• Game theory
• Economics of information
• Demand curves
• Supply curves
• Consumption choices
• Substitution effects
• Economic efficiency
• Competitive equilibrium
• Relating output to inputs
• Empirical estimation
• Cost of production
• Shortrun cost
• Profit maximization
• Perfectly competitive markets
• Competitive model
• Excise taxation
• Monopolist’s demand
• Marginal revenue curves
• Product pricing
• Monopoly power