Slide 1Lecture 3: Imperfectly Competitive Markets Required Text: Chapter 2 Market Models Slide 2 Monopoly When there many buyer of a good with no close substitutes but only…
Slide 1Competition and the Market Productive Efficiency and Allocative (Economic) Efficiency Slide 2 Topics to be Discussed Evaluating the Gains and Losses from Government…
Slide 11 Ch 10: Competitive Markets: Applications Often government intervene in markets, even perfectly competitive markets, for a variety of reasons Equity (instead of efficiency)…