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Imperfect competition

AP Micro: PRD (BI), PRD‑3 (EU)

Introduction to imperfect competition

AP Micro: PRD (BI), PRD‑3 (EU), PRD‑3.B (LO), PRD‑3.B.1 (EK), PRD‑3.B.2 (EK), PRD‑3.B.3 (EK), PRD‑3.B.4 (EK)
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Perfect and imperfect competition
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Types of competition and marginal revenue
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Marginal revenue and marginal cost in imperfect competition
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Monopoly

AP Micro: PRD (BI), PRD‑3 (EU), PRD‑3.B (LO), PRD‑3.B.5 (EK), PRD‑3.B.6 (EK), PRD‑3.B.7 (EK)
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Monopolies vs. perfect competition
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Economic profit for a monopoly
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Monopolist optimizing price: Total revenue
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Monopolist optimizing price: Marginal revenue
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Monopolist optimizing price: Dead weight loss
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Review of revenue and cost graphs for a monopoly
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MonopolyGet 3 of 4 questions to level up!
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Efficiency and monopoliesGet 3 of 4 questions to level up!
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Price discrimination

AP Micro: PRD (BI), PRD‑3 (EU), PRD‑3.B (LO), PRD‑3.B.8 (EK), PRD‑3.B.9 (EK)
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Price discrimination
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Monopoly price discrimination
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Price discriminationGet 3 of 4 questions to level up!
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Quiz 1

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Monopolistic competition

AP Micro: PRD (BI), PRD‑3 (EU), PRD‑3.B (LO), PRD‑3.B.10 (EK)
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Oligopolies and monopolistic competition
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Monopolistic competition and economic profit
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Long run economic profit for monopolistic competition
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Oligopoly and game theory

AP Micro: PRD (BI), PRD‑3 (EU), PRD‑3.C (LO), PRD‑3.C.1 (EK), PRD‑3.C.2 (EK), PRD‑3.C.3 (EK), PRD‑3.C.4 (EK), PRD‑3.C.5 (EK), PRD‑3.C.6 (EK), PRD‑3.C.7 (EK)
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Oligopolies, duopolies, collusion, and cartels
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Prisoners' dilemma and Nash equilibrium
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More on Nash equilibrium
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Why parties to cartels cheat
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Game theory of cheating firms
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Game theory worked example from AP Microeconomics
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Oligopoly and game theory: foundational conceptsGet 3 of 4 questions to level up!
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Game TheoryGet 3 of 4 questions to level up!
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Quiz 2

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Unit test

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About this unit

This unit introduces students to imperfectly competitive market structures: monopoly, monopolistic competition, and oligopoly. Topics include firm behavior and efficiency in imperfectly competitive settings and game theory.
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