TOPIC
6
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
RETURN
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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.
Objectives:
-
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
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To use the concept of consumer
surplus developed in an earlier topic to explore the implications price
discrimination by monopolists
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To provide an introduction to
the theory of oligopoly.
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