Monopolies vs. perfect competitionEconomic profit for a monopolyMonopolist optimizing price: Total revenueMonopolist optimizing price: Marginal revenueMonopolist optimizing price: Dead weight lossReview of revenue and cost graphs for a monopoly
Oligopolies, duopolies, collusion, and cartelsPrisoners' dilemma and Nash equilibriumMore on Nash equilibriumWhy parties to cartels cheatGame theory of cheating firmsGame theory worked example from AP Microeconomics
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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