This document discusses different market structures: perfect competition, monopoly, oligopoly, and monopolistic competition. It provides examples and characteristics of each structure. A monopoly is defined as a single supplier of a unique product or service with significant barriers to entry that allow it to control prices. Oligopolies have a few dominant firms producing similar products where they influence each other's pricing decisions. Monopolistic competition involves many sellers of differentiated products competing through advertising and branding.
Market structure
Market Struvture definition
types of Markets
Curves
Difference
Relation between average Revenve and Marginal Revenve
Factors Responsible for market structure
Market structure
Market Struvture definition
types of Markets
Curves
Difference
Relation between average Revenve and Marginal Revenve
Factors Responsible for market structure
Students should be able to:
Understand the assumptions of perfect competition and be able to explain the behaviour of firms in this market structure.
Understand the significance of firms as price-takers in perfectly competitive markets. An understanding of the meaning of shut-down point is required. The impact of entry into and exit from the industry should be considered.
This chapter covers the types of market such as perfect competition, monopoly, oligopoly and monopolistic competition, in which business firms operate.
This PPT includes Oligopoly Market. It is explained in detail.
This is for educational purpose only. If you own any of the content please let me know. We are not here to hurt anyone's emotion. Please try to co-operate and use this for educational purposes only.
perfect competition, monopoly, monopolistic and oligopolysandypkapoor
Price determination under different market structure and characterstics of all these market stractures along with graphical presentation of Perfect competition, Monopoly, Monopolistic and Oligopoly market structue
Students should be able to:
Understand the assumptions of perfect competition and be able to explain the behaviour of firms in this market structure.
Understand the significance of firms as price-takers in perfectly competitive markets. An understanding of the meaning of shut-down point is required. The impact of entry into and exit from the industry should be considered.
This chapter covers the types of market such as perfect competition, monopoly, oligopoly and monopolistic competition, in which business firms operate.
This PPT includes Oligopoly Market. It is explained in detail.
This is for educational purpose only. If you own any of the content please let me know. We are not here to hurt anyone's emotion. Please try to co-operate and use this for educational purposes only.
perfect competition, monopoly, monopolistic and oligopolysandypkapoor
Price determination under different market structure and characterstics of all these market stractures along with graphical presentation of Perfect competition, Monopoly, Monopolistic and Oligopoly market structue
This presentation is made for " Introduction to business" course. It is about Types of competitions in sales market or Market Structure which has 4 types ; Perfect, Monopolistic, Oligopoly, and Monopoly. It includes case study of " Wal-Mart " as well. ( but i'm not sure if it's accurate )
File Format : PPTX Power Point 2007 or Higher.
Miss Nannapat K. ( MUM )
Tim3flies
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Model Attribute Check Company Auto PropertyCeline George
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An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
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Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
This is a presentation by Dada Robert in a Your Skill Boost masterclass organised by the Excellence Foundation for South Sudan (EFSS) on Saturday, the 25th and Sunday, the 26th of May 2024.
He discussed the concept of quality improvement, emphasizing its applicability to various aspects of life, including personal, project, and program improvements. He defined quality as doing the right thing at the right time in the right way to achieve the best possible results and discussed the concept of the "gap" between what we know and what we do, and how this gap represents the areas we need to improve. He explained the scientific approach to quality improvement, which involves systematic performance analysis, testing and learning, and implementing change ideas. He also highlighted the importance of client focus and a team approach to quality improvement.
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LESSON
Chapter
Section
p
a
g
e
1
5
2
2. In this section we’ll be
looking at advertising’s
major role in 2 types of
market structures.
3. Perfect Competition
is a ______ structure
It has many______________ , & no
single __________can affect prices.
market
buyers & sellers
buyer/seller
4. In the U.S.
Most industries represent some form of
IMPERFECT COMPETITION
3 types of IMPERFECT MKT STRUCTURES
Monopoly / Oligopoly / Monopolistic Competition
5. The most extreme form of
IMPERFECT COMPETITION
A Pure Monopoly
One seller controls the supply of the
good/service & thus determines the price.
EX: ?Some local utility companies
Few such
markets exist
in the world
6. So a monopoly
is a market situation in which a single supplier
makes up an entire industry for a good/service
with no close substitutes.
NEXT: characteristics of a monopoly
7. 1 A SINGLE SELLER
2 NO SUBSTITUTES
3 NO ENTRY
4 Almost Complete MKT Price Control
Characteristics of a Monopoly
8. 3. NO ENTRY
Monopolist is protected by
obstacles to competition
preventing others from
entering the market.
9. 4. Almost Complete MKT Price Control
By controlling the available
supply, the monopolist can
control the market price.
10. BARRIERSTOENTRY
IF a monopoly is
making all the profits
in a particular industry,
why don’t others jump
in to get a share?
OBSTACLES to COMPETITION
that prevent others
from entering a market
12. Another BARRIER of ENTRY
COST OF GETTING STARTED
OR Excessive Money Capital Costs
E X A M P L E : CAR & STEEL INDUSTRIES
BIGinitalinvestment– costof equipment
= HUGE startup costs keep companies
from entering some industries.
Owning essential raw materials is also a
barrier of entry. EXAMPLE:TheDeBeersCompany
13. 4 Types of Pure Monopolies
Distinction iswhytheyexist
1.Natural
2.Geographic
3.Technological
4.Government
14. IN THE PAST,
they thought having 1 company providing a
public good or service was + efficient, or
natural.
SO
Gov. granted exclusive rights to
NATURAL MONOPOLIES
= providers of such things as utilities,
AND ???
22. GOVERNMENT MONOPOLY
SIMILAR TO Natural, Geographic, or Technological Monopoly?S I M I L A R TO N a t u ra l , M o n o p o l y
Thedifferenceisthatthegovernmentitself holdsthemonopoly
EXAMPLES?
30. 5 CONDITIONS for a MKT structure
to be an OLIGOPOLY
Domination–Few Sellers
BarrierstoEntry
Identical/SlightlyDifferentProducts
Non-PriceCompetition
Interdependence
31. Domination by a Few Sellers
Several
LARGE
firms
to80%ofthemarket
32. D o m i n a t i o n b y a F e w S e l l e rs
BARRIERS to ENTRY
HIGH
DIFFICULT
CapitalCosts
for new
companies to
enter major
markets
47. PRODUCT DIFFERENTIATION
The price you pay for BRAND product
isn’t just based on supply/demand.
Manufacturers’ use
of minor
differences in
quality/features to
try to differentiate
between similar
goods & services
48. INTERDEPENDENT BEHAVIOR
FEW FIRMS in oligopolies
SO When 1 airline cuts its airfares to gain
MKT share, the others follow suit
PRICE WAR
LOWER PRICES
Initially good for consumers
Ifpricesdroptoomuch,anairlinemaybeforcedoutofbusiness
FEWERairlines/LESSCOMPETITION/PRICESINCREASEinthelongrun
49. Competing Firms in an Oliogopoly
Secretly agree to RAISE PRICES / DIVIDE the MKT
51. A n i m p o r t a n t fo r m o f C O L LU S I O N
Anarrangementamonggroupsofindustrialbusinesses,often
indifferentcountries,toreduceinternationalcompetition
52. MOST COMMON
U.S. Market Structure
Monopolistic
L A R G E # o f S E L L E R S o f f e r S I M I I L A R ,
s l i g h t l y d i f f e r e n t P R O D U C T S
EXAMPLES:?
62. SOME CONTROL over PRICE
BuildingCUSTOMERLOYALTYthruPRODUCTDIFFERENTIATION,
eachfirmhasSOMECONTROLoverthePRICEitcharges
63. MONOPOLISTICCOMPETION&OLIGOPOLY
are similar
B I G D I F F E R E N C E / # o f S E L L E R S
OLIGOPOLY – FEW FIRMS dominate an industry.
CONTROL over PRICE is interdependent.
MONOPOLISTIC COMPETIONhasMANYFIRMS,NOreal
INTERDEPENDENCE/SLIGHTDIFFERENCEamongproducts
68. MONOPOLY oneseller
Uniqueproduct
NO close substitute to
product / service
BarrierstoEntry VERY HIGH
Control Over Price CONSIDERABLE
EXAMPLES: Water,electricity,1stclassmaildelivery
69. MONOPOLISTIC COMPETITION
MANY SELLERS Differentiated products
Barriers to Entry EASY
Control Over Price YES.Notasmuchasmonopoly;
ConsumerDemand
EXAMPLES: Clothing, Restaurant meals