Bài giảng topic 7(a) monopolisstic competition

... 393 52 4 655 786 917 1048 1179 1310 $ 100 100 100 100 100 100 100 100 100 100 100 Total Variable Cost $ 90 170 240 300 370 450 54 0 650 780 930 Total Cost $ 100 190 270 340 400 470 55 0 640 750 880 ... 450 54 0 650 780 930 Total Cost 100 ] 190 ] 270 ] 340 ] 400 ] 470 ] 55 0 ] 640 ] 750 ] 880 ] 1030 Price = Total MarginalMarginal Economic Cost Revenue Prof./Loss 90 80 70 60 70 80 90 110 1...

Ngày tải lên: 26/09/2015, 15:28

... perfect competition) Elasticity depends on   number of rivals degree of product differentiation Short-Run Price and Output Determination Rules for Profit maximization same as under Perfect Competition ... excess capacity price does not necessarily equal MC Good feature  product variety Non-price Competition (ie competition not based on price) Product differentiation: Real and/or per...

Ngày tải lên: 26/09/2015, 15:28

... PRODUCTION & COSTS Production & Costs concepts Short run Costs Long Run Costs Some cost concepts Opportunity Cost  Opportunity cost: ... profit =Total revenue – Total Explicit costs  Economic profit = Total revenue – (Total Explicit costs + Total Implicit costs) = Total revenue – Opportunity costs of all resources used  Normal ... Scale Costs LRAC O Output (b) Disecono...

Ngày tải lên: 26/09/2015, 15:28

... MONOPOLY- Contents Monopoly Characteristics Monopoly profit maximization Assessment of Monopoly Regulation of Monopoly Price Discrimination Characteristics of a pure monopoly   ... and Monopoly  Monopoly: higher price, lower output     smaller consumer surplus no allocative efficiency no productive efficiency deadweight loss to society (area ABE) Assessment of Monopoly...

Ngày tải lên: 26/09/2015, 15:28

... Government intervention becomes necessary Sources of Market Failure  Produce the wrong amounts of goods or services due to externalities or ‘spillovers’  Failure to allocate sufficient resources to ... Non -market goals Externalities (or spillovers)  Definition: Costs or benefits associated with the production or consumption of a good (or service) that flow on to 3rd parties outsid...

Ngày tải lên: 26/09/2015, 15:28

... difference? What is elasticity of demand? The responsiveness of quantity demanded  to a change in one of its determining factors  Point & Arc elasticity  Point elasticity    is elasticity at ... changes measured are likely to be very small Arc elasticity  is the average elasticity between points where X is the determinant of demand Price Elasticity is P As price increases...

Ngày tải lên: 26/09/2015, 15:28

... decreases Notice the difference in amount of tax and decrease in price As elasticity of demand and supply vary, the burden changes Elasticity and Tax burden - Summary Elastic Inelastic Demand ... imposing tax on producers: S1 P Tax E1 Consumers’ tax burden > Producers’ tax burden if Demand is relatively inelastic Consumers’ tax burden E0 Producers’ tax burden So D Q1 Q0 Q Taxes on Prod...

Ngày tải lên: 26/09/2015, 15:28

... OLIGOPOLY Contents Characteristics Game theory Oligopoly Models: a Kinked Demand Curve b Price leadership c Collusion d Cost-plus pricing Assessment of Oligopoly Oligopoly   In this topic ... made up of only a few firms: oligopoly A crucial feature of oligopoly is the interdependence between firms’ decisions Interdependence between firms      In oligopoly, the industry is...

Ngày tải lên: 26/09/2015, 15:29

... • Web 3. 0 is defined as the creation of high-quality content and services produced by gifted individuals using Web 2.0 technology as an enabling platform Web 3. 0 Web 3. 0 • Technique for Web 3. 0 ... Contents • • • • • Web 3. 0 Metadata RDF SPARQL OWL Web 3. 0 • Web 1.0 – Website publish information, user read it – Ex: • Web 2.0 – User create content: post informatio...

Ngày tải lên: 24/10/2014, 14:55

... • • • • Web 2. 0 DOM AJAX RIA Web 2. 0 • "Web 2. 0" refers to the second generation of web development and web design that facilities – – – – information sharing, interoperability, user-centered ... collaboration on web • Web 2. 0 does not have any technical update specifications • Web 2. 0 refers to cumulative changes in the ways software developers and end-users utilize...

Ngày tải lên: 24/10/2014, 14:56

... CHAPTER 12 OUTLINE Chapter 12: Monopolistic Competition and Oligopoly 12.1 Monopolistic Competition 12.2 Oligopoly 12.3 Price Competition 12.4 Competition versus Collusion: The Prisoners’ Dilemma ... • Pindyck/Rubinfeld, 8e of 35 Chapter 12: Monopolistic Competition and Oligopoly Monopolistic Competition and Oligopoly ● monopolistic competition Market in which firms can enter fr...

Ngày tải lên: 25/11/2014, 12:56

... compete with other firms • oligopolies engage in a • game: • any competition between players (such as firms) in which strategic behavior plays a major role Game theory • set of tools used by economists, ... other firm will • firms are playing • a noncooperative game of imperfect information: • each firm must choose an action before observing rivals’ simultaneous actions Dominant strategy...

Ngày tải lên: 02/12/2014, 16:09

... CHAPTER 12 OUTLINE Chapter 12: Monopolistic Competition and Oligopoly 12.1 Monopolistic Competition 12.2 Oligopoly 12.3 Price Competition 12.4 Competition versus Collusion: The Prisoners’ Dilemma ... • Pindyck/Rubinfeld, 8e of 35 Chapter 12: Monopolistic Competition and Oligopoly Monopolistic Competition and Oligopoly ● monopolistic competition Market in which firms can enter fr...

Ngày tải lên: 02/12/2014, 16:10

... p .10 ) 09/26 /15 19 Markets  Broad Definition:  A mechanism or arrangement that brings buyers and sellers of a good or service in contact with one another (Jackson p.55)  Examples ?? 09/26 /15 ... etc 11 What is labor? The mental and physical capacity of workers to produce goods and services 12 What is capital? The physical plants, machinery, and equipment used to produce other goods...

Ngày tải lên: 26/09/2015, 15:29