Markets. Competition

Сентябрь 6, 2022

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Markets. Competition

Содержание

2. WHAT DEPENDS ON THE SELLER SUPPLY, THE QUANTITY OF A PRODUCT THAT SUPPLIERS WILL PROVIDE, IS
3. IN A PERFECT MARKET THERE CAN BE ONLY ONE PRICE FOR A GIVEN COMMODITY: THE LOWEST
4. MONOPOLY A PURE MONOPOLY IS A SINGLE SUPPLIER IN A MARKET. FOR THE PURPOSES OF REGULATION,
5. MONOPOLY BARRIERS MONOPOLIES EXIST BECAUSE OF BARRIERS TO ENTRY INTO A MARKET THAT PREVENT COMPETITION. BARRIERS
6. A LEGAL BARRIERS, SUCH AS PATENTS, PREVENT OTHERS FROM ENTERING THE MARKET UNTIL THE PATENT EXPIRES.
7. NATURAL BARRIERS – WHERE THE FIRM HAS ECONOMIES OF SCALE TO PRODUCE WHAT OTHERS CANNOT DUPLICATE.
8. FOR A COMPETITIVE FIRM, MARGINAL REVENUE EQUALS PRICE: P = MR FOR A MONOPOLIST IT DOES
9. NATURAL MONOPOLY: WHEN A MONOPOLY IS ESTABLISHED DUE TO NATURAL CAUSES THEN IT IS CALLED NATURAL
10. LEGAL MONOPOLY: WHEN ANYBODY RECEIVES OR ACQUIRES MONOPOLY DUE TO LEGAL PROVISIONS IN THE COUNTRY. IN
11. WHEN A SINGLE FIRM HAS EXCLUSIVE RIGHTS OVER THE TECHNOLOGY USED TO MANUFACTURE IT. AN EXAMPLE
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Слайд 2

WHAT DEPENDS ON THE SELLER
SUPPLY, THE QUANTITY OF A PRODUCT THAT

SUPPLIERS WILL PROVIDE, IS THE SELLER’S SIDE

WHAT DEPENDS ON THE CONSUMER

DEMAND , THE QUANTITY OF A PRODUCT THE CONSUMER WANTS IS THE BUYERS SIDE

Слайд 3

IN A PERFECT MARKET THERE CAN BE ONLY ONE PRICE FOR

A GIVEN COMMODITY: THE LOWEST PRICE WHICH SELLERS WILL ACCEPT AND THE HIGHEST WHICH CONSUMERS WILL PAY.

Слайд 4

MONOPOLY
A PURE MONOPOLY IS A SINGLE SUPPLIER IN A MARKET. FOR

THE PURPOSES OF REGULATION, MONOPOLY POWER EXISTS WHEN A SINGLE FIRM CONTROLS 25% OR MORE OF A PARTICULAR MARKET.

Слайд 5

MONOPOLY BARRIERS
MONOPOLIES EXIST BECAUSE OF BARRIERS TO ENTRY INTO A MARKET

THAT PREVENT COMPETITION.

BARRIERS TO ENTRY INCLUDE LEGAL BARRIERS, SOCIOLOGICAL BARRIERS, AND NATURAL BARRIERS.

Слайд 6

A LEGAL BARRIERS, SUCH AS PATENTS, PREVENT OTHERS FROM ENTERING THE

MARKET UNTIL THE PATENT EXPIRES.

SOCIOLOGICAL BARRIERS – NOT EVERYONE HAS THE BRAINS TO WIN A NOBEL PRIZE NOR THE SKILL TO SLAM-DUNK A BASKETBALL

Слайд 7

NATURAL BARRIERS – WHERE THE FIRM HAS ECONOMIES OF SCALE TO

PRODUCE WHAT OTHERS CANNOT DUPLICATE.

Слайд 8

FOR A COMPETITIVE FIRM, MARGINAL REVENUE EQUALS PRICE: P = MR
FOR

A MONOPOLIST IT DOES NOT.
THE MONOPOLIST MUST TAKE INTO ACCOUNT THE FACT THAT ITS PRODUCTION DECISION WILL SIMULTANEOUSLY SET PRICE.

THE KEY DIFFERENCE BETWEEN A MONOPOLIST AND A PERFECT COMPETITOR

Слайд 9

NATURAL MONOPOLY:
WHEN A MONOPOLY IS ESTABLISHED DUE TO NATURAL CAUSES THEN

IT IS CALLED NATURAL MONOPOLY. TO-DAY INDIA HAS GOT MONOPOLY IN MICA PRODUCTION AND CANADA HAS GOT MONOPOLY IN NICKEL PRODUCTION. THESE MONOPOLY NATURES HAS PROVIDED TO THESE COUNTRIES.

Слайд 10

LEGAL MONOPOLY:
WHEN ANYBODY RECEIVES OR ACQUIRES MONOPOLY DUE TO LEGAL PROVISIONS

IN THE COUNTRY. IN THIS CASE PATENTS ARE MOST IMPORTANT

Слайд 11

WHEN A SINGLE FIRM HAS EXCLUSIVE RIGHTS OVER THE TECHNOLOGY USED

TO MANUFACTURE IT.
AN EXAMPLE IS WINDOWS 7 BECAUSE IT WAS PATENTED SO NO ONE ELSE CAN TAKE THE CREATION.

TECHNOLOGICAL MONOPOLY

Markets. Competition

Содержание

WHAT DEPENDS ON THE SELLERSUPPLY, THE QUANTITY OF A PRODUCT THAT

IN A PERFECT MARKET THERE CAN BE ONLY ONE PRICE FOR

MONOPOLYA PURE MONOPOLY IS A SINGLE SUPPLIER IN A MARKET. FOR

MONOPOLY BARRIERSMONOPOLIES EXIST BECAUSE OF BARRIERS TO ENTRY INTO A MARKET

A LEGAL BARRIERS, SUCH AS PATENTS, PREVENT OTHERS FROM ENTERING THE

NATURAL BARRIERS – WHERE THE FIRM HAS ECONOMIES OF SCALE TO

FOR A COMPETITIVE FIRM, MARGINAL REVENUE EQUALS PRICE: P = MRFOR

NATURAL MONOPOLY:WHEN A MONOPOLY IS ESTABLISHED DUE TO NATURAL CAUSES THEN

LEGAL MONOPOLY:WHEN ANYBODY RECEIVES OR ACQUIRES MONOPOLY DUE TO LEGAL PROVISIONS