Imperfect Competition and Oligopoly
the first time you go through each of these topics you should click on
the following items in sequence.
to the lecture
a quick quiz
|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.