TAILIEUCHUNG - Lecture Microeconomics: Theory and applications (12th edition): Chapter 15 - Browning, Zupan

Chapter 15 - Using noncompetitive market models. In this chapter students will be able to: Determine the relative magnitude of the deadweight loss of monopoly, ascertain the extent to which, if any, monopolies suppress innovations, explore whether government intervention can promote efficiency in the case of natural monopoly,. | MICROECONOMICS: Theory & Applications By Edgar K. Browning & Mark A. Zupan John Wiley & Sons, Inc. 12th Edition, Copyright 2015 Chapter 15: Using Noncompetitive Market Models Prepared by Dr. Della Lee Sue, Marist College Learning Objectives Determine the relative magnitude of the deadweight loss of monopoly. Ascertain the extent to which, if any, monopolies suppress innovations. Explore whether government intervention can promote efficiency in the case of natural monopoly. Explore the concepts of iterated dominance and commitment in the context of game theory models. THE SIZE OF THE DEADWEIGHT LOSS OF MONOPOLY Determine the relative magnitude of the deadweight loss of monopoly. Figure - The Size of the Deadweight Loss of Monopoly Why Are the Estimates of the Deadweight Loss Not Large? Estimates of the deadweight loss of monopoly in relation to GNP are not large. Reasons: Deadweight loss is compared to the size of the whole economy (GNP), not to the size of the .

• Kinh tế học
• Microeconomics theory
• Microeconomics applications
• Lecture Microeconomics
• Kinh tế vĩ mô
• Noncompetitive market models
• Iterated dominance
• 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