Market structure review

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Market Structure Review

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  • Market structure review

    1. 1. MicroeconomicsMarket Structure Review
    2. 2. Four Types
    3. 3. Four Types Perfect Competition MonopolyMonopolistic Competition Oligopoly
    4. 4. Four Types
    5. 5. Four Types Perfect Competition MonopolyMonopolistic Competition Oligopoly
    6. 6. Four Types
    7. 7. Four Types Perfect Competition MonopolyMonopolistic Competition Oligopoly
    8. 8. Perfect Competition
    9. 9. Perfect CompetitionNo market powerFlat demand curve Commodity MC = MR
    10. 10. Monopoly
    11. 11. Monopoly Some market powerDownward demand curveMR steeper than Demand Barrier to Entry MC = MR
    12. 12. Three types of Monopoly
    13. 13. Three types of Monopoly One Price Two Price - Coupon Multiple Prices - Discrimination
    14. 14. Monopolistic Competition
    15. 15. Monopolistic CompetitionStart as monopoly but end as perfect competition Demand flattens Lose market power
    16. 16. Monopolistic Competition
    17. 17. Monopolistic Competition Brands MC = MR
    18. 18. Oligopoly
    19. 19. Oligopoly Two Firms Game TheoryPrisoner’s Dilemma
    20. 20. Sellers have the mostmarket power in which market structure?
    21. 21. Sellers have the mostmarket power in which market structure? Monopoly with Price Discrimination
    22. 22. Sellers have the leastmarket power in which market structure?
    23. 23. Sellers have the leastmarket power in which market structure? Perfect Competition
    24. 24. Most sellers exist in which market structure?
    25. 25. Most sellers exist in which market structure?Monopolistic Competition or Brand Competition
    26. 26. Sellers worry most about other sellers in which market structure?
    27. 27. Sellers worry most about other sellers in which market structure? Oligopoly
    28. 28. Why can a monopolist charge more?
    29. 29. Why can a monopolist charge more? Market Power Less competition Price Maker

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