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Imperfect competition and monopoly
The document is a presentation by a group called SHADOW on the topic of "Imperfect Competition And Monopoly". It defines imperfect competition and lists the major types as monopoly, oligopoly, and monopolistic competition. It describes monopoly as a single seller controlling an industry, and oligopoly as having a small number of firms that can influence the market price. Monopolistic competition involves many differentiated products where firms have control over prices but face a downward sloping demand curve. The sources of market imperfection are costs and barriers to entry, with barriers including government restrictions, high startup costs, and product differentiation through advertising.
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Imperfect competition and monopoly
- 1. Well Come ToOur Presentation
- 2. The name ofour group is SHADOW
- 3. We are SkSadman Rafa BBA-055- Faiza Hasan Payel BBA-055- Iftekar Hasan Shawon BBA-055- Mishuk Hossan BBA-055- Syeda Afshana Hossain BBA-055- Fihadun Nesa BBA-055-
- 4. The name ofour presentation topic is ‘’Imperfect Competition And Monopoly’’
- 5. Sk Sadman Rafa BBA-055-
- 6. Definition of imperfect Competition Imperfect competition prevails in an industry whenever individual sellers can affect the price of their output. The major kind of imperfect competition are monopoly, oligopoly and monopolistic competition.
- 7. Faiza Hasan Payel ID : BBA -055-
- 8. Varieties of Imperfect Competition A modern industrial economy lie the united states is a jungle populated with many species of Imperfect Competition . The varieties of Imperfect Competition are- * Monopoly * Oligopoly * Monopolistic Competition
- 9. Monopoly Oligopoly Monopolyis a single seller with complete control over an industry. Mono for one and polist for seller .A Monopolist is the only firm producing in its industry and there is no industry producing a close substitute. Oligopoly means “few sellers ” few in this context can be a number as small as 2 more but under 15 firms .Each individual firm can affect the market price.
- 10. Iftekar Hasan Shawon ID :BBA 055-
- 11. Monopolistic Competition *Many sellers in market / many firms. * Differentiated products * Freedom of entry or exit * Independent Behavior * Control over prices
- 12. *Non price competitionusually occurs. So the firm faces a downward sloping demand curve.
- 13. Mishuk Hossan ID:BBA-055-
- 14. Sources of Market Imperfection Imperfect competition can be traced to two principle causes- • Costs and market imperfection • Barriers to entry
- 15. Costs and Market Imperfection Large scale production Decreasing average costs Expand its output
- 16. Syeda Afshana Hossain ID: BBA-055-
- 17. Barriers to entry Barriers to entry are the obstacles that make it difficult to enter a given market. This hindrance my include • Government and patents, • technology challenges, • star-up cost o • education and licensing requirements.
- 18. Types of Barriersto entry * Legal restrictions * High cost of entry * Advertising and product differentiation
- 19. Legal restrictions *Patent * Entry restriction * Foreign trade tariffs and quotas
- 20.
- 21. High Cost OfEntry In some industries the price of entry simply maybe very high. So it became difficult to entry imperfect market.
- 22. Advertising and productdifferentiation Advertising can create product awareness and loyalty to well known brands. Product differentiation can impose a barrier to entry and increase the market power of producers
- 23.