Monopoly, Imperfect Competition and Oligopoly

Note: the first time you go through each of these topics you should click on the following items in sequence. 

Read hypertext selection

Go to the lecture
Part "a"
Part "b"

Take a quick quiz 

Work a problem

Discuss an issue



With this topic we move from the world of perfectly competitive markets in which firms are "price takers" into the more common real-world situation where firms exercise some control over the price of their products in the market.  


  • To introduce the analysis of market structures which deviate from the perfectly competitive model
  • To review the different approaches to such cases taken by writers such as Joseph Schumpeter, Joan Robinson and Edward Chamberlin
  • To use the concept of consumer surplus developed in an earlier topic to explore the implications price discrimination by monopolists
  • To provide an introduction to the theory of oligopoly.

Copyright 1999 K.J. Rea