Understanding Markets with Market Power
Explore the dynamics of markets characterized by market power through a detailed analysis of topics such as monopoly profit maximization, welfare analysis, price discrimination, and competitive firm entry effects. Delve into concepts like payoff matrices, the prisoner's dilemma, and industry concentration ratios to deepen your understanding of market structures.
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Presentation Transcript
Chapter Seventeen: Markets with Market Power
Table 17.1 Total and Marginal Revenue for a Monopolist Table 17.1 Total and Marginal Revenue for a Monopolist
Figure 17.1 Monopoly Profit Maximization Figure 17.1 Monopoly Profit Maximization
Figure 17.2 Welfare Analysis of Monopoly Figure 17.2 Welfare Analysis of Monopoly
Figure 17.3 Price Discrimination Figure 17.3 Price Discrimination
Figure 17.4 A Perfectly Price Figure 17.4 A Perfectly Price- -Discriminating Monopolist Discriminating Monopolist
Figure 17.5 The Effect of Firm Entry on the Demand Figure 17.5 The Effect of Firm Entry on the Demand Curve for a Monopolistically Competitive Firm Curve for a Monopolistically Competitive Firm
Figure 17.6 A Payoff Matrix Figure 17.6 A Payoff Matrix
Figure 17.7 The Prisoners Dilemma Figure 17.7 The Prisoner s Dilemma
Figure 17.8 Concentration Ratios for Select Industries, Figure 17.8 Concentration Ratios for Select Industries, United States 2012 United States 2012 Source: U.S. Census Bureau, 2012 Economic Census. Note: Manufacturing concentration ratios based on value-added. All other concentration ratios based on revenues.
Chapter 17 Exercise 1 Chapter 17 Exercise 1
Chapter 17 Exercise 2 Chapter 17 Exercise 2
Figure 17.9 Monopoly Profits Figure 17.9 Monopoly Profits
Figure 17.10 Zero Economic Profits for a Monopolistically Figure 17.10 Zero Economic Profits for a Monopolistically Competitive Firm Competitive Firm
