CHAPTER 9 IMPERFECT COMPETITION AND MONOPOLY Presented by , Topics What is imperfect competition, sources of market imperfection 4 types of market structure& oligopoly…
Slide 1 TR, MR and Demand TR= PQ,MR= (TR)/ Q D MR |E|=1 Slide 2 Production and Costs an Economist’s view Q = f ( L, K,….) Short-Run (production): K – fixed…
why do monopoly markets exist?(11.6) Natural monopoly Barriers to entry Natural monopoly High fixed costs Average cost decreases with output: economies of scale Low demand…