Презентация Olygopoly. Between monopoly and perfect competition. (Lecture 16) онлайн
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Презентации » Экономика и Финансы » Olygopoly. Between monopoly and perfect competition. (Lecture 16)
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- Всего слайдов:41 слайд
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Слайды и текст к этой презентации:
№7 слайд
![MARKETS WITH ONLY A FEW](/documents_6/60adc2ff917b296a90b797aeaf472fda/img6.jpg)
Содержание слайда: MARKETS WITH ONLY A FEW SELLERS
Characteristics of an Oligopoly Market
Few sellers offering similar or identical products
Interdependent firms
Best off cooperating and acting like a monopolist by producing a small quantity of output and charging a price above marginal cost
№10 слайд
![A Duopoly Example Price and](/documents_6/60adc2ff917b296a90b797aeaf472fda/img9.jpg)
Содержание слайда: A Duopoly Example
Price and Quantity Supplied
The price of water in a perfectly competitive market would be driven to where the marginal cost is zero:
P = MC = $0
Q = 120 gallons
The price and quantity in a monopoly market would be where total profit is maximized:
P = $60
Q = 60 gallons
№17 слайд
![Equilibrium for an Oligopoly](/documents_6/60adc2ff917b296a90b797aeaf472fda/img16.jpg)
Содержание слайда: Equilibrium for an Oligopoly
Summary
Possible outcome if oligopoly firms pursue their own self-interests:
Joint output is greater than the monopoly quantity but less than the competitive industry quantity.
Market prices are lower than monopoly price but greater than competitive price.
Total profits are less than the monopoly profit.
№19 слайд
![How the Size of an Oligopoly](/documents_6/60adc2ff917b296a90b797aeaf472fda/img18.jpg)
Содержание слайда: How the Size of an Oligopoly Affects the Market Outcome
How increasing the number of sellers affects the price and quantity:
The output effect: Because price is above marginal cost, selling more at the going price raises profits.
The price effect: Raising production will increase the amount sold, which will lower the price and the profit per unit on all units sold.
№20 слайд
![How the Size of an Oligopoly](/documents_6/60adc2ff917b296a90b797aeaf472fda/img19.jpg)
Содержание слайда: How the Size of an Oligopoly Affects the Market Outcome
As the number of sellers in an oligopoly grows larger, an oligopolistic market looks more and more like a competitive market.
The price approaches marginal cost, and the quantity produced approaches the socially efficient level.
№38 слайд
![Controversies over Antitrust](/documents_6/60adc2ff917b296a90b797aeaf472fda/img37.jpg)
Содержание слайда: Controversies over Antitrust Policy
Resale Price Maintenance (or fair trade)
occurs when suppliers (like wholesalers) require retailers to charge a specific amount
Predatory Pricing
occurs when a large firm begins to cut the price of its product(s) with the intent of driving its competitor(s) out of the market
Tying
when a firm offers two (or more) of its products together at a single price, rather than separately
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