Microeconomics  Oligopoly  Few to Sell
Perfect                 Monopolistic                              Monopoly                    Oligopoly                Com...
Key Terms   Collusion            Dominant Strategy            Nash Equilibrium            Cooperative Equilibrium         ...
Oligopoly
Oligopoly   Small number ofinterdependent firms      compete
Oligopoly
OligopolyCannot use usual methodsDemand curves not obvious   Complex Strategy
Oligopoly
Oligopoly   Don’t know Demand CurveDon’t know Marginal Revenue curve Don’t know where to find profit       maximization point
Eddie  Prisoners  Dilemma                             Silent                 Betrays                    Eddie             ...
Prisoners Dilemma
Prisoners DilemmaPursuing the Dominant Strategy Results in Non-Cooperation     and Leaves Everyone          Worse Off
Game Theory
Game Theory   Rules Strategies  Payoffs
John Nash    (1928 - ) Game TheoryNash Equilibrium  Nobel 1994A Beautiful Mind
Duoploy
DuoployTwo Sellers
Hyper Panda                  2                      1         Danube                 Danube   2      1,000                ...
Profits  AttractCompetition
Five Competitive Forces
Five Competitive Forces    Existing Firms    Potential Firms      Substitutes        Buyers       Suppliers
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101 oligopoly

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Oligopoly

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  • 101 oligopoly

    1. 1. Microeconomics Oligopoly Few to Sell
    2. 2. Perfect Monopolistic Monopoly Oligopoly Competition Competition Number of Many One Many Few Firms Type of Identical Unique Brands Similar ProductEase of Entry Easy Blocked Easy Hard Demand D = MR D > MR Dynamic Game Theory STC-Mobily Brands Commodities HyperPanda Utilities Coke Examples Rice Danube Government Apple Apples Pairs
    3. 3. Key Terms Collusion Dominant Strategy Nash Equilibrium Cooperative Equilibrium Non-cooperative Equilibrium
    4. 4. Oligopoly
    5. 5. Oligopoly Small number ofinterdependent firms compete
    6. 6. Oligopoly
    7. 7. OligopolyCannot use usual methodsDemand curves not obvious Complex Strategy
    8. 8. Oligopoly
    9. 9. Oligopoly Don’t know Demand CurveDon’t know Marginal Revenue curve Don’t know where to find profit maximization point
    10. 10. Eddie Prisoners Dilemma Silent Betrays Eddie Eddie Silent 1 Year Goes Free Willie Willie 1 Year 10 YearsWillie Eddie Eddie 10 Years 5 Years Betrays Willie Willie Goes Free 5 Years
    11. 11. Prisoners Dilemma
    12. 12. Prisoners DilemmaPursuing the Dominant Strategy Results in Non-Cooperation and Leaves Everyone Worse Off
    13. 13. Game Theory
    14. 14. Game Theory Rules Strategies Payoffs
    15. 15. John Nash (1928 - ) Game TheoryNash Equilibrium Nobel 1994A Beautiful Mind
    16. 16. Duoploy
    17. 17. DuoployTwo Sellers
    18. 18. Hyper Panda 2 1 Danube Danube 2 1,000 500 Hyper Panda Hyper PandaDanube 1,000 2,000 Danube Danube 2,000 700 1 Hyper Panda Hyper Panda 500 700
    19. 19. Profits AttractCompetition
    20. 20. Five Competitive Forces
    21. 21. Five Competitive Forces Existing Firms Potential Firms Substitutes Buyers Suppliers
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