Perfect Competition
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Perfect competition is a market structure with the following characteristics: homogeneous products, free entry and exit, many buyers and sellers, and perfect information. Under perfect competition, firms are price takers and the equilibrium price is determined by the intersection of market supply and demand. At the equilibrium price, firms earn zero economic profit in the long run as entry by new firms will continue until price equals minimum average total cost.
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The market structure
Market structure identifies how competitive a market is based on factors like the number of firms, nature of products, degree of monopoly power, and barriers to entry. It ranges from perfect competition on the highly competitive end to pure monopoly on the less competitive end. The further right on the scale, the greater the monopoly power of firms. Market structure models are representations of reality that help analyze industry competition levels and firm behavior.
Perfect competition
This document discusses the characteristics of perfect competition in economics. It outlines the necessary conditions for a perfectly competitive market, which are: firms are price takers; there are many buyers and sellers; there are no barriers to entry or exit; products are identical; and there is complete information. It explains that under perfect competition, each individual firm faces a perfectly elastic demand curve, meaning it is a price taker, while the market demand curve is downward sloping. The individual firm can have no impact on the market price.
Monopolistic Competition, Microeconomics
Monopolistic competition is a market structure with many firms selling similar but not identical products. Firms have some control over pricing due to product differentiation, but competition is still present from close substitutes. While firms face downward sloping demand curves, the existence of substitutes limits their monopoly power. Firms must use non-price factors like advertising, location, and quality to increase prices and profits in both the short and long run. In the long run, new entrants will join the market until economic profits are eliminated.
Monopoly
The document discusses key aspects of monopoly markets including:
- A monopoly is defined as a single seller of a product without close substitutes that controls the entire market.
- Features of monopoly include barriers to entry that allow the firm to be a price maker and make independent output decisions.
- Monopolies can maximize profits in the short run but aim for normal profits in the long run to deter new competition.
- Monopolies are economically inefficient as they produce at lower output levels than would be optimal, resulting in deadweight loss.
Economics Perfect Market Competition
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Monopolistic Competition
Monopolistic competition is a market structure with many competitors selling similar but differentiated products. While the products are highly substitutable, firms use marketing and advertising to convince consumers the products differ. There is free entry and exit into the market as long as firms can create perceived differences between products through branding and promotion.
Perfect Competition (A2 Micro)
The document discusses the model of perfect competition. It outlines the key assumptions behind a perfectly competitive market, including many suppliers and buyers, homogeneous products, perfect information and no barriers to entry or exit. It also examines characteristics such as firms being price takers. The model shows how markets reach a long-run equilibrium where price equals average cost and normal profits are earned. Perfect competition is said to promote both productive and allocative efficiency. However, the model is largely theoretical as very few real world markets exhibit all the strict assumptions of perfect competition.
Presentation - Market structure (incomplete)
The document defines the four main types of market structures: perfect competition, monopoly, monopolistic competition, and oligopoly. Perfect competition is characterized by many small firms and buyers producing identical goods. A monopoly features a single seller of unique goods without close substitutes. Monopolistic competition involves many firms selling differentiated goods. Oligopoly describes an industry with a small number of large firms that interact strategically. Examples are provided for each type as well as their key characteristics regarding competition, pricing, and profitability.
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The market structure
Market structure identifies how competitive a market is based on factors like the number of firms, nature of products, degree of monopoly power, and barriers to entry. It ranges from perfect competition on the highly competitive end to pure monopoly on the less competitive end. The further right on the scale, the greater the monopoly power of firms. Market structure models are representations of reality that help analyze industry competition levels and firm behavior.
Perfect competition
This document discusses the characteristics of perfect competition in economics. It outlines the necessary conditions for a perfectly competitive market, which are: firms are price takers; there are many buyers and sellers; there are no barriers to entry or exit; products are identical; and there is complete information. It explains that under perfect competition, each individual firm faces a perfectly elastic demand curve, meaning it is a price taker, while the market demand curve is downward sloping. The individual firm can have no impact on the market price.
Monopolistic Competition, Microeconomics
Monopolistic competition is a market structure with many firms selling similar but not identical products. Firms have some control over pricing due to product differentiation, but competition is still present from close substitutes. While firms face downward sloping demand curves, the existence of substitutes limits their monopoly power. Firms must use non-price factors like advertising, location, and quality to increase prices and profits in both the short and long run. In the long run, new entrants will join the market until economic profits are eliminated.
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The document discusses key aspects of monopoly markets including:
- A monopoly is defined as a single seller of a product without close substitutes that controls the entire market.
- Features of monopoly include barriers to entry that allow the firm to be a price maker and make independent output decisions.
- Monopolies can maximize profits in the short run but aim for normal profits in the long run to deter new competition.
- Monopolies are economically inefficient as they produce at lower output levels than would be optimal, resulting in deadweight loss.
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Monopolistic competition is a market structure with many competitors selling similar but differentiated products. While the products are highly substitutable, firms use marketing and advertising to convince consumers the products differ. There is free entry and exit into the market as long as firms can create perceived differences between products through branding and promotion.
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This document defines different types of market structures:
- A market allows buyers and sellers to interact and exchange goods/services. It can be defined by a geographic area.
- Market structures include perfect competition, monopolistic competition, oligopoly, duopoly, monopoly, and cartels.
- Perfect competition has many small sellers/buyers of homogeneous products, no entry/exit barriers, and price-taking firms. Monopolistic competition has differentiated products. Oligopolies and duopolies have a small number of interdependent firms. Monopolies are the sole providers of goods/services and can influence prices. Cartels explicitly collude to regulate supply and prices.
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1. Monopolistic competition refers to a market with many small businesses that sell differentiated products.
2. While products are differentiated, they are still close substitutes for one another. Firms have some control over pricing but also face competition from similar products.
3. Features include free entry and exit of businesses, product differentiation through branding or qualities, and firms engaging in advertising to promote their unique versions.
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The document discusses market structures, specifically perfect competition. It defines key characteristics of perfect competition including a large number of small firms, homogeneous products, free entry and exit, and firms being price takers. Under perfect competition, each firm's demand curve is perfectly elastic and marginal revenue equals price. Firms produce where price equals marginal cost to maximize profits. In the long run, normal profits are achieved as entry and exit cause supply to equal demand. Perfect competition leads to allocative and productive efficiency.
Perfect Competition
Perfect Competition content slideshow. Designed for the Economics A level qualification. Can be used in revision and in class.
Subtopics:
Intro to Perfect Competition
Equilibria of Perfect Competition
Market Shocks in Perfect Competition
Evaluating Perfect Competition
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Perfect competition presentation
This document discusses perfect competition in the rice market. It describes that the rice market exhibits characteristics of perfect competition, including: (1) there being many small rice farming firms and buyers/sellers, (2) the rice product being standardized/homogeneous, and (3) easy entry and exit for firms in the market. The document also notes that international rice trade can demonstrate perfect competition when trade barriers are low, causing domestic rice prices to align with global prices.
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- A monopoly is a sole seller in a market that faces a downward-sloping demand curve. It is a price maker unlike competitive firms.
- A monopoly maximizes profits by producing where marginal revenue equals marginal cost and charging a price above marginal cost.
- This results in a lower quantity and higher price than would be socially optimal, causing deadweight loss.
- Governments address monopoly power through antitrust laws, regulation, or public ownership to increase competition and efficiency.
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This document provides an overview of managerial economics and market structures. It defines key terms like market structure, perfect competition, monopoly, and oligopoly. For oligopoly specifically, it outlines the key features including interdependence, importance of advertising, group behavior, indeterminate demand curves, few sellers, aggressive/defensive marketing, competition/combination, and identical/differentiated products. It also lists advantages like high profits for large firms, and disadvantages such as price setting benefiting firms over customers.
Monopoly
- Monopolies have market power that allows them to raise prices without losing all demand for their products. Barriers to entry like large capital requirements, patents, and government franchises can prevent competition in imperfectly competitive industries.
- A pure monopoly is a single firm that produces a unique product and faces no competition due to barriers that prevent other firms from entering the market. As the sole producer, the monopoly is the entire industry.
- Monopolies restrict output and charge higher prices than competitive firms, leading to inefficient resource allocation and welfare losses for society. Antitrust policy aims to promote competition and limit monopolies through legislation like the Sherman Act.
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Main market forms
The document discusses different market structures: perfect competition, monopoly, monopolistic competition, oligopoly, and duopoly. Perfect competition is characterized by many small firms, homogeneous products, perfect information, and price-taking behavior. Monopoly involves a single seller controlling the market. Monopolistic competition and oligopoly involve a small number of firms with some product differentiation. Oligopoly features mutual interdependence between firms. Duopoly is a special case of oligopoly with two firms.
Monopoly
This document defines and explains the concept of monopoly. It states that a monopoly is a market situation where there is only one seller of a unique product or service, there are no close substitutes for this product or service, and there are barriers to entry that prevent other companies from entering the market. It also discusses how monopolies can control price and determine output to maximize their profits in both the short run and long run.
6 monopolistic competition
Monopolistic competition is an imperfect market structure between perfect competition and pure monopoly. It is characterized by many small sellers offering differentiated products, free entry and exit into the market, and firms facing downward-sloping demand curves. In the short run, firms can make profits or losses, but in the long run free entry and exit will cause the number of firms to adjust until all firms earn zero economic profits and price equals average total cost.
Equilibrium
The document introduces the concept of supply and demand equilibrium in a classroom market simulation. Students will propose prices for snack packs and those prices will be used to create a demand schedule. Students will then think like suppliers and choose a price for the snack packs that maximizes sales and profits by matching supply to demand. The market reaches equilibrium when the quantity demanded is equal to the quantity supplied at a certain equilibrium price. Disequilibrium states like surpluses and shortages occur when demand and supply are not equal.
Monopolistic Competition
1) Monopolistic competition describes an imperfect market structure where many small businesses produce differentiated products. Examples include coffee shops, hair salons, and pizza delivery services.
2) In the short run, firms in monopolistically competitive markets can earn supernormal profits by producing at a quantity where marginal cost equals marginal revenue. In the long run, free entry and exit of competitors drives profits down to normal levels.
3) Monopolistically competitive markets are not perfectly efficient. Prices exceed marginal costs, leading to allocative inefficiency. Advertising spending may also represent an inefficient use of resources.
Pure Monopoly
This document discusses pure monopoly, which is when a single company has complete control over the market for a product due to barriers to entry. Key characteristics of pure monopoly include being the single seller with no close substitutes, allowing them to be a price maker. Advantages include economies of scale and innovation incentives, while disadvantages are limited consumer options and non-optimal production signals. A pure monopolist faces a downward sloping demand curve and is a price maker, setting prices where marginal revenue equals marginal cost to maximize profits. The document also discusses price discrimination, which is when a monopolist charges different prices to different consumers.
Perfect Competition
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.
Contestable Markets
The document discusses contestable markets, where actual and potential competition exists and entry and exit decisions can be made without cost. Conditions for contestability include an absence of sunk costs, access to technology, low consumer loyalty, and low legal barriers. A contestable market may have a low minimum efficient scale and limited scale economies. Policies like deregulation and open access networks can make markets more contestable by reducing barriers to entry and exit. The threat of potential competition in a contestable market can influence incumbent firms' pricing and output decisions similar to a competitive market.
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Monopolistic competition is characterized by many sellers offering differentiated products, free entry and exit into the market, and firms competing through non-price factors like advertising. In the short run, firms will earn economic profits or losses depending on demand. In the long run, free entry and exit will drive profits to zero as firms enter industries with profits and exit those with losses. While prices exceed marginal costs as in a monopoly, free entry ensures prices equal average costs in the long run as in perfect competition. However, monopolistic competition is not as efficient as perfect competition due to deadweight loss from prices above marginal costs.
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Market structure
This document defines different types of market structures:
- A market allows buyers and sellers to interact and exchange goods/services. It can be defined by a geographic area.
- Market structures include perfect competition, monopolistic competition, oligopoly, duopoly, monopoly, and cartels.
- Perfect competition has many small sellers/buyers of homogeneous products, no entry/exit barriers, and price-taking firms. Monopolistic competition has differentiated products. Oligopolies and duopolies have a small number of interdependent firms. Monopolies are the sole providers of goods/services and can influence prices. Cartels explicitly collude to regulate supply and prices.
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1. Monopolistic competition refers to a market with many small businesses that sell differentiated products.
2. While products are differentiated, they are still close substitutes for one another. Firms have some control over pricing but also face competition from similar products.
3. Features include free entry and exit of businesses, product differentiation through branding or qualities, and firms engaging in advertising to promote their unique versions.
Market structures – perfect competition
The document discusses market structures, specifically perfect competition. It defines key characteristics of perfect competition including a large number of small firms, homogeneous products, free entry and exit, and firms being price takers. Under perfect competition, each firm's demand curve is perfectly elastic and marginal revenue equals price. Firms produce where price equals marginal cost to maximize profits. In the long run, normal profits are achieved as entry and exit cause supply to equal demand. Perfect competition leads to allocative and productive efficiency.
Perfect Competition
Perfect Competition content slideshow. Designed for the Economics A level qualification. Can be used in revision and in class.
Subtopics:
Intro to Perfect Competition
Equilibria of Perfect Competition
Market Shocks in Perfect Competition
Evaluating Perfect Competition
pure monopoly
A pure monopoly exists when a single firm is the sole producer of a product with no close substitutes. A pure monopolist faces a downward-sloping demand curve and is a price maker. It controls total supply and has influence over price. Entry into the industry is blocked. A pure monopolist maximizes profits by producing at the quantity where marginal revenue equals marginal cost and setting the price on the demand curve corresponding to that quantity of output. This generally results in a smaller quantity and higher price than under perfect competition.
Perfect competition presentation
This document discusses perfect competition in the rice market. It describes that the rice market exhibits characteristics of perfect competition, including: (1) there being many small rice farming firms and buyers/sellers, (2) the rice product being standardized/homogeneous, and (3) easy entry and exit for firms in the market. The document also notes that international rice trade can demonstrate perfect competition when trade barriers are low, causing domestic rice prices to align with global prices.
Monopoly
- A monopoly is a sole seller in a market that faces a downward-sloping demand curve. It is a price maker unlike competitive firms.
- A monopoly maximizes profits by producing where marginal revenue equals marginal cost and charging a price above marginal cost.
- This results in a lower quantity and higher price than would be socially optimal, causing deadweight loss.
- Governments address monopoly power through antitrust laws, regulation, or public ownership to increase competition and efficiency.
Market structure updated
This document provides an overview of managerial economics and market structures. It defines key terms like market structure, perfect competition, monopoly, and oligopoly. For oligopoly specifically, it outlines the key features including interdependence, importance of advertising, group behavior, indeterminate demand curves, few sellers, aggressive/defensive marketing, competition/combination, and identical/differentiated products. It also lists advantages like high profits for large firms, and disadvantages such as price setting benefiting firms over customers.
Monopoly
- Monopolies have market power that allows them to raise prices without losing all demand for their products. Barriers to entry like large capital requirements, patents, and government franchises can prevent competition in imperfectly competitive industries.
- A pure monopoly is a single firm that produces a unique product and faces no competition due to barriers that prevent other firms from entering the market. As the sole producer, the monopoly is the entire industry.
- Monopolies restrict output and charge higher prices than competitive firms, leading to inefficient resource allocation and welfare losses for society. Antitrust policy aims to promote competition and limit monopolies through legislation like the Sherman Act.
monopoly and monopolistic market
This document provides an overview of monopoly and monopolistic markets. It defines a monopoly market as having a single seller of a unique product, where barriers to entry prevent competition. Features include abnormal profits and price inelastic demand. A monopolist determines price by producing where marginal revenue equals marginal cost to maximize profits. A monopolistic market has many sellers of differentiated but substitutable products, with free entry and exit. Firms compete but influence each other. They set price along their demand curve above average cost to earn supernormal profits in the short run but normal profits in the long run equilibrium. The key difference between monopoly and monopolistic markets is the number of sellers and availability of substitutes.
About monopoly gp
This document provides an overview of monopoly market structures. It defines monopoly as a market with a single firm and discusses how monopolies exist due to barriers to entry. The key differences between a monopolist and a competitive firm are explained, including how a monopolist's marginal revenue is below price. Models of monopoly are presented graphically and numerically. The document also discusses welfare losses from monopoly power, barriers to entry, price discrimination, and normative views of monopolies.
Main market forms
The document discusses different market structures: perfect competition, monopoly, monopolistic competition, oligopoly, and duopoly. Perfect competition is characterized by many small firms, homogeneous products, perfect information, and price-taking behavior. Monopoly involves a single seller controlling the market. Monopolistic competition and oligopoly involve a small number of firms with some product differentiation. Oligopoly features mutual interdependence between firms. Duopoly is a special case of oligopoly with two firms.
Monopoly
This document defines and explains the concept of monopoly. It states that a monopoly is a market situation where there is only one seller of a unique product or service, there are no close substitutes for this product or service, and there are barriers to entry that prevent other companies from entering the market. It also discusses how monopolies can control price and determine output to maximize their profits in both the short run and long run.
6 monopolistic competition
Monopolistic competition is an imperfect market structure between perfect competition and pure monopoly. It is characterized by many small sellers offering differentiated products, free entry and exit into the market, and firms facing downward-sloping demand curves. In the short run, firms can make profits or losses, but in the long run free entry and exit will cause the number of firms to adjust until all firms earn zero economic profits and price equals average total cost.
Equilibrium
The document introduces the concept of supply and demand equilibrium in a classroom market simulation. Students will propose prices for snack packs and those prices will be used to create a demand schedule. Students will then think like suppliers and choose a price for the snack packs that maximizes sales and profits by matching supply to demand. The market reaches equilibrium when the quantity demanded is equal to the quantity supplied at a certain equilibrium price. Disequilibrium states like surpluses and shortages occur when demand and supply are not equal.
Monopolistic Competition
1) Monopolistic competition describes an imperfect market structure where many small businesses produce differentiated products. Examples include coffee shops, hair salons, and pizza delivery services.
2) In the short run, firms in monopolistically competitive markets can earn supernormal profits by producing at a quantity where marginal cost equals marginal revenue. In the long run, free entry and exit of competitors drives profits down to normal levels.
3) Monopolistically competitive markets are not perfectly efficient. Prices exceed marginal costs, leading to allocative inefficiency. Advertising spending may also represent an inefficient use of resources.
Pure Monopoly
This document discusses pure monopoly, which is when a single company has complete control over the market for a product due to barriers to entry. Key characteristics of pure monopoly include being the single seller with no close substitutes, allowing them to be a price maker. Advantages include economies of scale and innovation incentives, while disadvantages are limited consumer options and non-optimal production signals. A pure monopolist faces a downward sloping demand curve and is a price maker, setting prices where marginal revenue equals marginal cost to maximize profits. The document also discusses price discrimination, which is when a monopolist charges different prices to different consumers.
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Perfect Competition
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.
Contestable Markets
The document discusses contestable markets, where actual and potential competition exists and entry and exit decisions can be made without cost. Conditions for contestability include an absence of sunk costs, access to technology, low consumer loyalty, and low legal barriers. A contestable market may have a low minimum efficient scale and limited scale economies. Policies like deregulation and open access networks can make markets more contestable by reducing barriers to entry and exit. The threat of potential competition in a contestable market can influence incumbent firms' pricing and output decisions similar to a competitive market.
Contestable Markets
This document discusses contestable markets and provides examples of industries with varying degrees of contestability. It defines a contestable market as one where entry and exit decisions can be made without cost. Key factors that determine contestability include the absence of sunk costs, access to technology, consumer loyalty, and size of entry barriers. Various industries like movies on demand, retail coffee stores, and budget hotels are assessed as having high contestability, while industries like household mail services currently have low contestability but this may be rising. The document also examines pricing strategies in highly contestable markets and discusses concepts like hit-and-run entry and barriers to exit.
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This document discusses economic efficiency and different market structures. It begins by defining economic efficiency and its various forms, including allocative efficiency, productive efficiency, and dynamic efficiency. It then examines different market structures - perfect competition, monopoly, monopolistic competition, and oligopoly - and evaluates how efficiently each allocates resources. Perfect competition achieves full efficiency while monopoly and imperfect competition can be inefficient. Contestable markets use the threat of entry and exit to make monopolies behave more competitively.
Perfect competition
This document discusses the model of perfect competition. It outlines the key assumptions of the model including homogeneous goods, many small buyers and sellers, perfect information, and free entry and exit. The document then examines the short-run and long-run equilibrium for firms under perfect competition and how price and output are determined. It also discusses how perfect competition leads to productive and allocative economic efficiency. While the assumptions of the perfect competition model are not fully met in reality, the model provides a benchmark for understanding different market structures and their impacts.
Perfect competition summary
This document summarizes the key assumptions and characteristics of a perfectly competitive market. It outlines that in a perfectly competitive market there are many small firms, homogeneous products, free entry and exit of businesses, and complete information. It provides examples of markets like street markets that more closely resemble perfect competition than others like bookmakers. The document then examines the market interactions under perfect competition, including the determination of market price and quantity from the intersection of supply and demand. It explores how individual firms are price takers and earn only normal profits in the long run. Finally, it discusses how perfect competition leads to allocative, productive, and dynamic efficiency, though dynamic efficiency may be limited without innovation incentives.
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Managerial economics
The document provides an overview of market structures including perfect competition, monopoly, monopolistic competition, and oligopoly. It defines key concepts such as market equilibrium, revenue curves, and profit maximization conditions. For each market structure, it discusses features, pricing determination, and equilibrium in both the short-run and long-run. It also provides examples of Cournot and Bertrand models of oligopoly to illustrate how firms may consider competitors' actions when setting prices and output.
Comp mono
Perfect competition is characterized by many small firms producing identical products with no barriers to entry or exit. The market price is determined by the intersection of total market supply and demand. In the short run, firms take the price as given and produce where marginal revenue equals marginal cost to maximize profits. In the long run, profits are driven to zero as new firms enter. A monopoly is dominated by a single seller who is a price maker. It produces where marginal revenue equals marginal cost to maximize profits, resulting in a price above marginal cost and potential economic profits. Price discrimination allows monopolies to segment markets and charge different prices to different groups.
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This chapter discusses perfect competition and key concepts including:
1) In a perfectly competitive market, firms are price-takers and can sell all output at the market price without impacting the price.
2) Individual firms maximize profits by producing where marginal cost equals marginal revenue.
3) In the long run, entry and exit of firms ensures prices equal minimum average total cost and economic profits are zero.
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A2 Microeconomics: This is a revision presentation on aspects of monopolistic competition designed for A2 business economics students
Economies of Scale
Economies of scale occur when average costs decrease as production increases. This allows firms to produce at a lower per-unit cost by spreading fixed costs over more units of output. However, diseconomies of scale can emerge at very large scales of production as coordination and communication problems increase. Firms should aim to produce at an efficient scale where average costs are minimized, taking into account both economies and diseconomies of scale.
Market structures1
1. The document outlines four different market structures: perfect competition, monopoly, oligopoly, and monopolistic competition.
2. It describes the key determinants of market structure as the number of sellers, nature of products, freedom of entry and exit, and control over price.
3. Perfect competition is defined as having free entry and exit, homogeneous products, many buyers and sellers, and perfect information. Firms are price takers and seek to maximize profits by producing where price equals marginal cost.
Perfect competition
Perfect competition is a market structure with many small firms, homogeneous products, perfect information and free entry and exit. In the short run, firms maximize profits where marginal cost (MC) equals marginal revenue (MR). Abnormal profits attract new firms, lowering prices to normal profits when MC equals average cost (AC). Allocative efficiency occurs where MC equals average revenue (AR). In the long run, productive, allocative and profit maximizing efficiencies are achieved at the same output level.
Unit 2 3 4 And 2 3 5 Mc And Oligopoly
This document summarizes key characteristics of monopolistic competition. In 3 sentences: Firms in monopolistic competition have differentiated but substitutable products, they set price between the monopoly and competitive levels where marginal revenue equals marginal cost to earn normal profits in the long run, and while this leads to higher prices than perfect competition it provides benefits to consumers like variety and innovation.
Barriers to Entry and Exit
Barriers to entry and exit protect existing firms and allow them to maintain high profits. They include economies of scale, brand loyalty, and control of important technologies. Google faces few barriers to entry in search due to its vast scale and vertical integration advantages over potential competitors. Firms use strategies like limit pricing, predatory pricing, and brand proliferation to discourage competition. Industries with high minimum efficient scale and falling average costs are less contestable due to barriers to entry. Established firms have cost advantages from learning, integration, and scale that make entry difficult for competitors. Plant closures occur when price falls below average costs, showing the shutdown price.
Market Structures
Class: Economics20: Consumer Economics
Sub Topic:
- Pure Competition
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原版一模一样【微信：741003700 】【(cwu毕业证书)美国中央华盛顿大学毕业证成绩单】【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
1:1完美还原海外各大学毕业材料上的工艺：水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠。文字图案浮雕、激光镭射、紫外荧光、温感、复印防伪等防伪工艺。材料咨询办理、认证咨询办理请加学历顾问Q/微741003700
【主营项目】
一.毕业证【q微741003700】成绩单、使馆认证、教育部认证、雅思托福成绩单、学生卡等！
二.真实使馆公证(即留学回国人员证明,不成功不收费)
三.真实教育部学历学位认证（教育部存档！教育部留服网站永久可查）
四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
◇面对父母的压力，希望尽快拿到；
◇不清楚认证流程以及材料该如何准备；
◇回国时间很长，忘记办理；
◇回国马上就要找工作，办给用人单位看；
◇企事业单位必须要求办理的
◇需要报考公务员、购买免税车、落转户口
◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】外观非常简单，由纸质材料制成，上面印有校徽、校名、毕业生姓名、专业等信息。
办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】格式相对统一，各专业都有相应的模板。通常包括以下部分：
校徽：象征着学校的荣誉和传承。
校名:学校英文全称
授予学位：本部分将注明获得的具体学位名称。
毕业生姓名：这是最重要的信息之一，标志着该证书是由特定人员获得的。
颁发日期：这是毕业正式生效的时间，也代表着毕业生学业的结束。
其他信息：根据不同的专业和学位，可能会有一些特定的信息或章节。
办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】价值很高，需要妥善保管。一般来说，应放置在安全、干燥、防潮的地方，避免长时间暴露在阳光下。如需使用，最好使用复印件而不是原件，以免丢失。
综上所述，办理(cwu毕业证书)美国中央华盛顿大学毕业证【微信：741003700 】是证明身份和学历的高价值文件。外观简单庄重，格式统一，包括重要的个人信息和发布日期。对持有人来说，妥善保管是非常重要的。
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
挂科购买【微信号:176555708】【挂科购买(UPenn毕业证书)】【微信号:176555708】《成绩单、外壳、offer、真实留信官方学历认证（永久存档/真实可查）》采用学校原版纸张、特殊工艺完全按照原版一比一制作（包括：隐形水印，阴影底纹，钢印LOGO烫金烫银，LOGO烫金烫银复合重叠，文字图案浮雕，激光镭射，紫外荧光，温感，复印防伪）行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备，十五年致力于帮助留学生解决难题，业务范围有加拿大、英国、澳洲、韩国、美国、新加坡，新西兰等学历材料，包您满意。
【我们承诺采用的是学校原版纸张（纸质、底色、纹路）我们拥有全套进口原装设备，特殊工艺都是采用不同机器制作，仿真度基本可以达到100%，所有工艺效果都可提前给客户展示，不满意可以根据客户要求进行调整，直到满意为止！】
【业务选择办理准则】
一、工作未确定，回国需先给父母、亲戚朋友看下文凭的情况，办理一份就读学校的毕业证【微信号:176555708】文凭即可
二、回国进私企、外企、自己做生意的情况，这些单位是不查询毕业证真伪的，而且国内没有渠道去查询国外文凭的真假，也不需要提供真实教育部认证。鉴于此，办理一份毕业证【微信号:176555708】即可
三、进国企，银行，事业单位，考公务员等等，这些单位是必需要提供真实教育部认证的，办理教育部认证所需资料众多且烦琐，所有材料您都必须提供原件，我们凭借丰富的经验，快捷的绿色通道帮您快速整合材料，让您少走弯路。
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
留信网服务项目：
1、留学生专业人才库服务（留信分析）
2、国（境）学习人员提供就业推荐信服务
3、留学人员区块链存储服务
【关于价格问题（保证一手价格）】
我们所定的价格是非常合理的，而且我们现在做得单子大多数都是代理和回头客户介绍的所以一般现在有新的单子 我给客户的都是第一手的代理价格，因为我想坦诚对待大家 不想跟大家在价格方面浪费时间
对于老客户或者被老客户介绍过来的朋友，我们都会适当给一些优惠。
选择实体注册公司办理，更放心，更安全！我们的承诺：客户在留信官方认证查询网站查询到认证通过结果后付款，不成功不收费！
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Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
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Perfect Competition
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- 2. What is Perfect Competition? HALFPPP • Homogenous Products (all perfect substitutes) • All firms have access to factors of production • Large number of buyers & sellers • Free entry and exit to/from the market • Perfectly elastic demand curve • Perfect knowledge / information • Profit maximization assumed as key objective
- 3. Price, Cost Output Price, Cost Output Market Supply and Demand Revenues, Costs and Profits for a Competitive Firm D S AC MC P 1 AR=MR Equilibrium price and output under perfect competition Price and Output
- 4. Price, Cost Output Price, Cost Output Market Supply and Demand Revenues, Costs and Profits for a Competitive Firm D S AC MC P 1 AR=MR Equilibrium price and output under perfect competition Price and Output
- 5. Price, Cost Output Price, Cost Output Market Supply and Demand Revenues, Costs and Profits for a Competitive Firm D S AC MC P 1 AR=MR Q1 C1 Supernormal profits Equilibrium price and output under perfect competition Price and Output
- 6. Perfect Competition Multiple Choice Question
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- 8. Monopolistic Competition Multiple Choice Question
- 9. Price, Cost Output Price, Cost Output Market Supply and Demand Revenues, Costs and Profits for a Competitive Firm D S1 AC MC P 1 AR1=MR1 S2 P 2 The entry of new firms into a competitive market Price and Output in the Long Run
- 10. Price, Cost Output Price, Cost Output Market Supply and Demand Revenues, Costs and Profits for a Competitive Firm D S1 AC MC P 1 AR1=MR1 Q2 AR2=MR2 S2 P 2 The entry of new firms into a competitive market Price and Output in the long run
- 11. Allocative Productive Dynamic Price = marginal cost Producing at the lowest point of the average cost curve Changes in the choices available in a market over time Economic Efficiency – Vitally Important in A2 Micro! Perfect competition and economic efficiency
- 12. Price, Cost Output Price, Cost Output Market Supply and Demand Revenues, Costs and Profits for a Competitive Firm D S1 AC MC Q2 AR2=MR2 S2 P 2 The entry of new firms into a competitive market Price and Output in the long run
- 13. Problems with the (theoretical) model of perfect competition • Most firms have some amount of price-setting power • Dominance of differentiated / branded products • Highly complex products, always information gaps • Impossible to avoid search costs even with digital technology • Patents, control of intellectual property, control of key inputs are all ignored by the competitive model • Rare for entry and exit in an industry to be costless Evaluation
- 14. Evaluation
- 15. A2 Micro: Perfect Competition