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Unit: Imperfect competition

AP Micro:
PRD (BI)
,
PRD‑3 (EU)

0

Possible mastery points

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)
Learn
Perfect and imperfect competition
(Opens a modal)
Types of competition and marginal revenue
(Opens a modal)
Marginal revenue and marginal cost in imperfect competition
(Opens a modal)
Practice
Imperfect competitionGet 3 of 4 questions to level up!

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)
Learn
Monopolies vs. perfect competition
(Opens a modal)
Economic profit for a monopoly
(Opens a modal)
Monopolist optimizing price: Total revenue
(Opens a modal)
Monopolist optimizing price: Marginal revenue
(Opens a modal)
Monopolist optimizing price: Dead weight loss
(Opens a modal)
Review of revenue and cost graphs for a monopoly
(Opens a modal)
Practice
MonopolyGet 3 of 4 questions to level up!
Efficiency and monopoliesGet 3 of 4 questions to level up!

Price discrimination

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

Quiz 1

Level up on the above skills and collect up to 400 Mastery points

Monopolistic competition

AP Micro:
PRD (BI)
,
PRD‑3 (EU)
,
PRD‑3.B (LO)
,
PRD‑3.B.10 (EK)
Learn
Oligopolies and monopolistic competition
(Opens a modal)
Monopolistic competition and economic profit
(Opens a modal)
Long run economic profit for monopolistic competition
(Opens a modal)
Practice
Monopolistic competitionGet 3 of 4 questions to level up!

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)
Learn
Oligopolies, duopolies, collusion, and cartels
(Opens a modal)
Prisoners' dilemma and Nash equilibrium
(Opens a modal)
More on Nash equilibrium
(Opens a modal)
Why parties to cartels cheat
(Opens a modal)
Game theory of cheating firms
(Opens a modal)
Game theory worked example from AP Microeconomics
(Opens a modal)
Practice
Oligopoly and game theory: foundational conceptsGet 3 of 4 questions to level up!
Game TheoryGet 3 of 4 questions to level up!

Quiz 2

Level up on the above skills and collect up to 300 Mastery points
Up next for you:

Unit test

Level up on all the skills in this unit and collect up to 700 Mastery points!

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.
AP® is a registered trademark of the College Board, which has not reviewed this resource.