Xem mẫu

08 Pure Competition in the Short Run McGraw­Hill/Irwin Copyright © 2012 by The McGraw­Hill Companies, Inc. All rights reserved. Four Market Models • Pure competition • Pure monopoly • Monopolistic competition • Oligopoly Pure Competition Monopolistic Competition Oligopoly Pure Monopoly Market Structure Continuum LO1 8-2 Four Market Models Characteristics of the Four Basic Market Models Characteristic Number of firms Type of product Control over price Conditions of entry Nonprice Competition Examples LO1 Pure Competition A very large number Standardized None Very easy, no obstacles None Agriculture Monopolistic Competition Many Differentiated Some, but within rather narrow limits Relatively easy Considerable emphasis on advertising, brand names, trademarks Retail trade, dresses, shoes Oligopoly Few Standardized or differentiated Limited by mutual inter-dependence; considerable with collusion Significant obstacles Typically a great deal, particularly with product differentiation Steel, auto, farm implements Monopoly One Unique; no close subs. Considerable Blocked Mostly public relation advertising Local utilities 8-3 Pure Competition: Characteristics • Very large numbers of sellers • Standardized product • “Price takers” • Easy entry and exit • Perfectly elastic demand •Firm produces as much or little as they want at the price •Demand graphs as horizontal line LO2 8-4 Average, Total, and Marginal Revenue • Average Revenue •Revenue per unit •AR = TR/Q = P • Total Revenue •TR = P X Q • Marginal Revenue •Extra revenue from 1 more unit •MR = ΔTR/ΔQ LO3 8-5 ... - tailieumienphi.vn
nguon tai.lieu . vn