Monopolistic competition and oligopoly
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This document provides an overview of monopolistic competition and oligopoly market structures. It defines monopolistic competition as having many differentiated product firms, easy entry and exit, and firms competing on both price and product differentiation. The document discusses how a monopolistically competitive firm sets price where marginal cost equals marginal revenue in the short run, but earns zero economic profit in the long run. It then defines oligopoly as having a small number of large firms, high barriers to entry, and the potential for both differentiated and homogeneous products. The document proceeds to describe a kinked demand curve model of non-collusive oligopoly price rigidity.
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The document discusses different market structures including perfect competition, monopoly, monopolistic competition, and oligopoly. It defines each structure based on the number of firms, degree of product differentiation, level of control over prices, and barriers to entry/exit. Perfect competition has many firms and standardized products while monopoly has a single firm with unique products and control over prices. Monopolistic competition and oligopoly involve some product differentiation and a small number of firms competing.
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This document provides an overview of the four types of market structure: perfect competition, monopolistic competition, oligopoly, and pure monopoly. It defines the key characteristics of each type of market structure, including the number of firms, type of products, control over price, conditions of entry, and examples. Perfect competition is characterized as having a large number of firms producing standardized products, with firms being price takers and free entry and exit into the market.
1monopolistic competition
Here are the steps to solve this problem:
1) Take the derivative of total cost (TC') = 400 - 40Q + 3Q^2
2) Set TC' equal to marginal revenue (MR) and solve for Q:
TC' = MR
400 - 40Q + 3Q^2 = 309.75 - Q
3Q^2 - 39Q + 91.25 = 0
3) Solve the quadratic formula to find the optimal quantity:
Q* = 13
4) Plug Q* back into the demand equation to find price:
P* = 309.75 - 13 = 296.75
5) Calculate total cost at Q* and subtract from total revenue to find profit:
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The five forces model of analysis developed by Michael Porter is used to analyze competitive environments. It examines five forces: bargaining power of buyers and suppliers, threat of substitutes, threat of new entrants, and competitive rivalry. The document applies the five forces model to analyze the competitive environment of the car rental industry, finding bargaining power of skilled drivers and threat of substitutes from public transportation to be significant forces. Intense competition exists among major players in the industry.
Counter Parts Oligopoly
This document summarizes the characteristics of an oligopoly market structure. Key features include there being a small number of large firms dominating the market, barriers to entry that allow firms to charge high prices, and firms making interdependent pricing decisions based on how their competitors will react. The document also describes the kinked demand curve theory oligopolies use to determine pricing, where firms will not change prices if a competitor increases them but will match a price decrease to avoid losing revenue.
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This document summarizes the characteristics of an oligopoly market structure. Key features include:
- The market is dominated by a small number of large producers, between perfect competition and monopoly.
- Demand is between perfectly elastic and inelastic.
- There are high barriers to entry that allow existing firms to charge high prices and earn supernormal profits.
- Firms engage in non-price competition like branding, innovation, and perceived value enhancement to differentiate their products.
- The kinked demand curve model is described, where firms will not change prices in response to competitors due to the uncertainty of their reactions.
Marketing Structure
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 )
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Here are the steps to solve this problem:
1) Take the derivative of total cost (TC') = 400 - 40Q + 3Q^2
2) Set TC' equal to marginal revenue (MR) and solve for Q:
TC' = MR
400 - 40Q + 3Q^2 = 309.75 - Q
3Q^2 - 39Q + 91.25 = 0
3) Solve the quadratic formula to find the optimal quantity:
Q* = 13
4) Plug Q* back into the demand equation to find price:
P* = 309.75 - 13 = 296.75
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This document summarizes the characteristics of an oligopoly market structure. Key features include:
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This document discusses different types of market structures:
1. Perfect competition is characterized by many small sellers of identical products, price taking behavior, freedom of entry and exit. Potatoes sold at markets are an example.
2. Monopoly is dominated by a single seller of a unique product where entry is restricted, like Gillette razor blades.
3. Monopolistic competition involves differentiated products that are close substitutes, like various shoe brands.
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- Oligopoly has a small number of firms, potential for product differentiation and barriers to entry.
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4. Oligopoly has few dominant firms. They are interdependent and can engage in collusion or price leadership.
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Monopolistic competition is an imperfect market structure with many sellers of differentiated products. Firms have some control over prices but not the market. It has characteristics like product differentiation, free entry and exit, imperfect knowledge. In the short run, firms maximize profits where MR=MC. In the long run, free entry leads to zero economic profits as the market reaches equilibrium.
Economics project on concept on revenue on markets
This document discusses revenue concepts in different market structures. It defines revenue, market, and the key market structures - perfect competition, monopolistic competition, and monopoly.
For perfect competition, the document outlines features like many small firms, homogeneous products, free entry and exit. Revenue is constant for each firm as they are price takers.
Monopolistic competition has product differentiation and imperfect information. Demand is more elastic.
Monopoly has a single seller, barriers to entry, no close substitutes. The monopolist is a price maker and determines price to maximize profits. Both average and marginal revenue are negatively sloped for a monopoly.
CHAPTER ONE.pptx
Monopolistic competition is a market structure characterized by many small businesses that sell differentiated products or services. While firms compete with each other's products, each product is still somewhat unique due to real or perceived differences. This allows firms some monopoly power over their particular product. In the long run, free entry and price competition among existing firms will drive profits back down to zero, but monopolistically competitive firms will still produce at a level below minimum efficient scale, resulting in some excess capacity. Compared to perfect competition, monopolistic competition can lead to deadweight loss from prices above marginal costs and unused resources from excess capacity.
Monopolistic competition basic things
Monopolistic competition describes a market structure with many small businesses that sell differentiated but similar products. While firms compete on price, they also engage in non-price competition through product differentiation, branding, and advertising. In the short run, firms maximize profits by producing where marginal revenue equals marginal cost. In the long run, free entry and exit causes average costs to equal prices as firms earn zero economic profit.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
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Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.BONKMILLON Unleashes Its Bonkers Potential on Solana.pdf
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Monopolistic competition and oligopoly
- 1. Monopolistic Competition and Oligopoly Submitted by: Surbhi Goel R2 13609178
- 2. INTRODUCTION Monopolistic competition is a market structure in which there are many firms selling differentiated. Monopolistic competition is a market structure in which: –There are a large number of firms –The products produced by the different firms are differentiated –Entry and exit occur easily
- 3. PRODUCT DIFFERENTIATION Product differentiation implies that the products are different enough that one brand is different from other brand • The firms compete more on product differentiation than on price. • firms produce close substitutes, not an identical product.
- 4. Output, Price, and Profit of a Monopolistic Competitor in shor run: • A monopolistically competitive firm prices in the same manner as a monopolist—where MC = MR. • But the monopolistic competitor is not only a monopolist but a competitor as well. • The demand curve faced by a monopolistically competitive firm is negatively sloped but it is much flatter than that of a monopolist because of close substitutability of the products.
- 5. A Monopolistically Competitive Firm:
- 6. Output, Price, and Profit of a Monopolistic Competitor in long run: • At long run equilibrium, ATC equals price and economic profits are zero. • This occurs at the point of tangency of the ATC and demand curve at the output chosen by the firm.
- 7. LONG RUN:
- 8. OLIGOPOLY • • • • • Oligopoly –Competition amongst the few Industry dominated by small number of large firms High barriers to entry Products could be highly differentiated – branding or homogenous Both Price and Non–price competition Firms are interdependent
- 9. PRICE RIGIDITY MODEL ( Non Collusive) THE KINKED DEMAND CURVE THEORY • This model recognizes that demand for a firm’s product is determined both by the market demand for a product as well as by rival firm’s behaviour
- 10. Kinked Model • Demand Curve is kinked. MR curve is discontinuous. If MC curve passes through the discontinuous portion of the MR curve then equilibrium is at kink. • Greater the difference between the two segments of the demand curve, higher will be the length of the discontinuous portion of the MR curve. • Even if MC curves go up or go down , the equilibrium remains stable at the kink. This model is also called sticky price model.
- 11. THANK YOU