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101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
101 oligopoly
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101 oligopoly

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Oligopoly

Oligopoly

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  • Transcript

    • 1. Microeconomics Oligopoly Few to Sell
    • 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. Key Terms Collusion Dominant Strategy Nash Equilibrium Cooperative Equilibrium Non-cooperative Equilibrium
    • 4. Oligopoly
    • 5. Oligopoly Small number ofinterdependent firms compete
    • 6. Oligopoly
    • 7. OligopolyCannot use usual methodsDemand curves not obvious Complex Strategy
    • 8. Oligopoly
    • 9. Oligopoly Don’t know Demand CurveDon’t know Marginal Revenue curve Don’t know where to find profit maximization point
    • 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. Prisoners Dilemma
    • 12. Prisoners DilemmaPursuing the Dominant Strategy Results in Non-Cooperation and Leaves Everyone Worse Off
    • 13. Game Theory
    • 14. Game Theory Rules Strategies Payoffs
    • 15. John Nash (1928 - ) Game TheoryNash Equilibrium Nobel 1994A Beautiful Mind
    • 16. Duoploy
    • 17. DuoployTwo Sellers
    • 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. Profits AttractCompetition
    • 20. Five Competitive Forces
    • 21. Five Competitive Forces Existing Firms Potential Firms Substitutes Buyers Suppliers

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