Nature of competition in real world

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Nature of competition in real world

  1. 1. Nature of competition in real world: A critical analysis.<br />Submitted to: <br />Prof. M.P.Rege<br />
  2. 2. Group Members<br />1.<br />2.<br />3.<br />4.<br />5.<br />6.<br />
  3. 3. Agenda<br />
  4. 4. What is Market?<br />
  5. 5. Many firms<br />One firm<br />Few firms<br />Differentiated products<br />Identical products<br />The Four Types of Market Structure<br />Number of Firms?<br />Type of Products?<br />Monopoly<br />Oligopoly<br />Monopolistic Competition<br />Perfect Competition<br /><ul><li> Tap water
  6. 6. Cable TV
  7. 7. Tennis balls
  8. 8. Crude oil
  9. 9. Novels
  10. 10. Movies
  11. 11. Wheat
  12. 12. Milk</li></li></ul><li>Perfect Competition <br />
  13. 13. Price Determination In Perfect Competition<br />
  14. 14. Equilibrium Point<br />
  15. 15. Time Element in Price AnalysisMarshall’s Theory of time<br />
  16. 16. Pricing in Market Period<br />
  17. 17. Pricing in Short Run period<br />
  18. 18. Pricing in Long Run period<br />
  19. 19. Pure competition<br />
  20. 20. Imperfect Competition<br />
  21. 21. Monopoly Competition<br />
  22. 22. Features<br />
  23. 23.
  24. 24.
  25. 25. Advantages of monopoly :<br />
  26. 26. Disadvantages of monopoly<br />
  27. 27. Monopsony Competition<br />
  28. 28. Monopolistic Competition<br />
  29. 29. Features <br />
  30. 30. Oligopoly Competition<br />
  31. 31. Features <br />
  32. 32. Kinked demand curve and price rigidity<br />Reaction to <br /> price reduction<br />Reaction to<br /> price increase<br />D<br />D<br />D<br />ELASTIC DEMAND(other firms do not follow price increase)<br />LESS ELASTIC DEMAND<br />(other firms follow price cut))<br />D’<br />PRICE<br />d<br />K<br />Price change unmatched<br />d’<br />D<br />Price change matched<br />QUANTITY<br />
  33. 33. Oligopsony Competition<br />

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