chapter_12 Monopolistic Competition and Oligopoly 平狄克微观英文版课件.ppt

Chapter 1 Chapter 12 Monopolistic Competition and Oligopoly Topics to be Discussed Monopolistic Competition Oligopoly Price Competition Competition Versus Collusion: The Prisoners’ Dilemma Topics to be Discussed Implications of the Prisoners’ Dilemma for Oligopolistic Pricing Cartels Monopolistic Competition Characteristics 1) Many firms 2) Free entry and exit 3) Differentiated product Monopolistic Competition The amount of monopoly power depends on the degree of differentiation. Examples of this very common market structure include: Toothpaste Soap Cold remedies Monopolistic Competition T