Managerial Economics
Price and Output Under Oligopoly
How price and output are decided in an oligopoly: Sweezy's kinked demand curve and price rigidity, cartels and output quotas, and price leadership by a low-cost firm.
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Managerial Economics
Demand, supply, cost, market structure and the policy that shapes them.
Managerial Economics
Managerial Economics
Price and Output Under Monopolistic Competition
How firms in monopolistic competition set price and output: short-run profit or loss where MR = MC, and why entry drives long-run economic profit to zero.
Managerial Economics
Price and Output Under Monopoly
How a monopolist decides price and output: downward-sloping AR and MR, equilibrium where MR = MC, a worked numerical example, and the zero-marginal-cost case.
Managerial Economics
Price and Output Under Perfect Competition
Under perfect competition, price is set by the whole industry where market demand meets market supply. Here is how demand, supply and equilibrium work, with graphs.
Managerial Economics
Monopsony: A Market With One Buyer
A monopsony is a market with a single dominant buyer facing many sellers. Here are its features, why it appears mostly in factor markets, and a supermarket example.
Managerial Economics
Oligopoly
An oligopoly is a market dominated by a few large, interdependent firms behind high entry barriers. Here are its features, why firms collude, and familiar examples.
Managerial Economics
Monopolistic Competition
Monopolistic competition has many sellers of similar but differentiated products. Here are its features and a familiar example: the restaurants in your locality.
Managerial Economics
The Types of Monopoly
Twelve kinds of monopoly, from pure and natural monopolies to cartels, franchises and patents, with how each arises and how governments keep them in check.
Managerial Economics
Monopoly: One Seller, and What Follows From It
A monopoly has a single seller and no close substitutes. Here is why monopolies arise, their main features, some examples, and how they differ from oligopolies.
Managerial Economics
Perfect and Imperfect Competition Compared
A side-by-side comparison of perfect and imperfect competition: number of firms, market power, products, entry barriers, pricing, efficiency and examples.
Managerial Economics
Imperfect Competition
Imperfect competition covers every market that falls short of perfect competition: monopoly, duopoly, oligopoly and monopsony. Here is how each works, with its pros and cons.
Managerial Economics
Perfect Competition
Perfect competition is a theoretical market with many small sellers of an identical product. Here are its features, why it rarely exists, and the markets that come closest.
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