We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byAustin Figueroa
Modified over 3 years ago
Copyright 2000 Addison-Wesley Longman PART 1 ECONOMIC THEORY,CONCEPTS, AND METHODS
Copyright 2000 Addison-Wesley Longman CHAPTER 1 COMPETITION, MONOPOLY, AND SOCIAL WELFARE
Copyright 2000 Addison-Wesley Longman FIGURE 1.1 Competitive Market: Marginal Cost = Price at $16 per barrel and Output is 22 billion barrels
Copyright 2000 Addison-Wesley Longman FIGURE 1.2 Monopolistic Industry: Maximum Profit Restricts Annual Output to 12.69 billion barrels
Copyright 2000 Addison-Wesley Longman FIGURE 1.3 The Monopoly Optimum: Marginal Revenue=Marginal Cost at an Output level of 12.69 billion barrels and Price is $34.62 per barrel
Copyright 2000 Addison-Wesley Longman FIGURE 1.4 Crude Oil Prices 1950-1998: Deflated prices, 1998 dollars
Copyright 2000 Addison-Wesley Longman
FIGURE 1.5 The Social Optimum: Price=Marginal Social Cost at $27 per barrel and Output Is 16.5 billion barrels
Copyright 2000 Addison-Wesley Longman FIGURE 1.6 Consumer Value Is the Total Value to All Consumers
Copyright 2000 Addison-Wesley Longman FIGURE 1.7 Willingness to Pay: Social Value=Consumer Value
Copyright 2000 Addison-Wesley Longman FIGURE 1.8 Competition Maximizes Consumer and Producer Surplus
Copyright 2000 Addison-Wesley Longman
Copyright 2000 Addison-Wesley Longman PART 3 THE QUESTION OF GLOBAL RESOURCE LIMITATIONS.
Copyright © 2006 Thomson Learning 15 Monopoly. Figure 1 Economies of Scale as a Cause of Monopoly Copyright © 2004 South-Western Quantity of Output Average.
CHAPTER 14 Monopoly PowerPoint® Slides by Can Erbil © 2004 Worth Publishers, all rights reserved.
Economic Surplus Welfare Economics and Public Goods.
Chapter 24 MONOPOLY Maximizing profits The monopolist will always set p=p(y). r(y)=p(y)y The monopolist’s profit-maximization problem then takes.
1 Chapters 12: Product Pricing with Monopoly Power.
Chapter Nine Applying the Competitive Model. © 2007 Pearson Addison-Wesley. All rights reserved.9–2 Figure 9.1 Consumer Surplus p CS.
Monopoly. Average and marginal revenue under monopoly.
Competition In Imperfect Markets. Profit Maximization By A Monopolist The monopolist must take account of the market demand curve: - the higher the price.
Copyright 2000 Addison-Wesley Longman CHAPTER 18 CLIMATE CHANGE: ECONOMICS AND POLICY.
Copyright 2000 Addison-Wesley Longman PART 4 RENEWABLE ENVIRONMENTAL RESOURCES: AIR AND WATER QUALITY, AGRICULTURE, AND FORESTRY.
Gain From Participating in Markets Consumers: gain satisfaction Producers: gain profit Marginal Benefit: The maximum price that a consumer will.
Pricing To Capture Surplus Value. Capturing Surplus: By applying the price discrimination. Price discrimination: the practice of charging consumers different.
Lecture 13-14: Welfare and Social Choice Charit Tingsabadh M.Sc. Programme in Environmental and natural resource economics Semester 1/2006.
Copyright©2004 South-Western 17 Monopolistic Competition.
© 2007 Pearson Addison-Wesley. All rights reserved.8–1 Figure 8.2 How a Competitive Firm Maximizes Profit.
3 SUPPLY AND DEMAND II: MARKETS AND WELFARE. Copyright © 2004 South-Western 7 Consumers, Producers, and the Efficiency of Markets.
Foundations of Chapter M A R K E T I N G Copyright © 2003 by Nelson, a division of Thomson Canada Limited. Understanding Pricing 13.
Monopoly Demand Curve Chapter The Demand Curve Facing a Monopoly Firm In any market, the industry demand curve is downward- sloping. This is the.
CHAPTER 13 Monopoly. TM 13-2 Copyright © 1998 Addison Wesley Longman, Inc. Learning Objectives Define monopoly and explain the conditions under which.
Chapter 19 Input Markets and the Origins of Class Conflict.
Question: What is worse for consumers than a Monopolist? Two monopolists. Vertical Markets: An analysis.
Chapter 10 Natural Monopoly and the Economics of Regulation.
The Welfare Economics of Market Power Roger Ware ECON 445.
Possible Barriers to Entry “a market served by a single firm” 14 Monopoly.
CHAPTER 13 Monopoly Michael Parkin ECONOMICS 5e. TM 13-2 Copyright © 1998 Addison Wesley Longman, Inc. Learning Objectives Explain how monopoly arises.
Economic Conditions Created by the Grant of a Patent $ Quantity.
Chapter 12 Market Entry and the Emergence of Perfect Competition.
Copyright © 2010 Cengage Learning 17 Monopolistic Competition.
Different Types of Market Structures
Monopoly & Oligopoly Chapter 15 & 16 Week 12, 13.
Chapter foundations of Chapter M A R K E T I N G Understanding Pricing 13.
Copyright©2004 South-Western 3 American Business.
Unit 4, Lesson 9 How the Interactions of Businesses and Consumers Determine Prices AOF Business Economics Copyright © 2008–2011 National Academy Foundation.
Monopoly Chapter 7 Copyright © 2011 by The McGraw-Hill Companies, Inc. All Rights Reserved.McGraw-Hill/Irwin.
Pure Competition Chapter 10. Chapter 23 Table 23.1 Four types of Market Organization.
Copyright © 2006 Thomson Learning 17 Monopolistic Competition.
Chapter 3 Demand and Behavior in Markets. Copyright © 2001 Addison Wesley LongmanSlide 3- 2 Figure 3.1 Optimal Consumption Bundle.
Applying the Competitive Model
Copyright © 2008 Pearson Addison-Wesley. All rights reserved. Chapter 13 International Trade in Goods and Assets.
Copyright © 2004 South-Western Monopoly vs. Competition While a competitive firm is a price taker, a monopoly firm is a price maker. A firm is considered.
Chapter Monopoly 15. Why Monopolies Arise Monopoly – Firm that is the sole seller of a product without close substitutes – Price maker – Barriers to entry.
Chapter 15 APPLIED COMPETITIVE ANALYSIS Copyright ©2002 by South-Western, a division of Thomson Learning. All rights reserved. MICROECONOMIC THEORY BASIC.
Economics Winter 14 April 2 nd, 2014 Lecture 30 Ch. 13: Pure monopoly.
© 2008 Pearson Addison Wesley. All rights reserved Chapter Seven Costs.
Copyright © 2008 Pearson Addison-Wesley. All rights reserved. Chapter 10 Monopoly, Cartels, and Price Discrimination.
Utility and Demand Michael Parkin ECONOMICS 5e. TM 8-2 Copyright © 1998 Addison Wesley Longman, Inc. Learning Objectives Explain the household’s budget.
© 2017 SlidePlayer.com Inc. All rights reserved.