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Market structure review

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Gale Pooley
Gale Pooley

Market Structure Review

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Microeconomics Market Structure Review
Four Types
Four Types Perfect Competition Monopoly Monopolistic Competition Oligopoly
Four Types
Four Types Perfect Competition Monopoly Monopolistic Competition Oligopoly
Four Types
Four Types Perfect Competition Monopoly Monopolistic Competition Oligopoly
Perfect Competition
Perfect Competition No market power Flat demand curve Commodity MC = MR
Monopoly
Monopoly Some market power Downward demand curve MR steeper than Demand Barrier to Entry MC = MR
Three types of Monopoly
Three types of Monopoly One Price Two Price - Coupon Multiple Prices - Discrimination
Monopolistic Competition
Monopolistic Competition Start as monopoly but end as perfect competition Demand flattens Lose market power
Monopolistic Competition
Monopolistic Competition Brands MC = MR
Oligopoly
Oligopoly Two Firms Game Theory Prisoner’s Dilemma
Sellers have the most market power in which market structure?
Sellers have the most market power in which market structure? Monopoly with Price Discrimination
Sellers have the least market power in which market structure?
Sellers have the least market power in which market structure? Perfect Competition
Most sellers exist in which market structure?
Most sellers exist in which market structure? Monopolistic Competition or Brand Competition
Sellers worry most about other sellers in which market structure?
Sellers worry most about other sellers in which market structure? Oligopoly
Why can a monopolist charge more?
Why can a monopolist charge more? Market Power Less competition Price Maker

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Market structure review

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