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 2 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 billion barrels
Copyright 2000 Addison-Wesley Longman FIGURE 1.3 The Monopoly Optimum: Marginal Revenue=Marginal Cost at an Output level of billion barrels and Price is $34.62 per barrel
Copyright 2000 Addison-Wesley Longman FIGURE 1.4 Crude Oil Prices : 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.
Competition In Imperfect Markets. Profit Maximization By A Monopolist The monopolist must take account of the market demand curve: - the higher the price.
Pricing To Capture Surplus Value. Capturing Surplus: By applying the price discrimination. Price discrimination: the practice of charging consumers different.
Copyright 2000 Addison-Wesley Longman PART 4 RENEWABLE ENVIRONMENTAL RESOURCES: AIR AND WATER QUALITY, AGRICULTURE, AND FORESTRY.
Chapter 10 Natural Monopoly and the Economics of Regulation.
Applying the Competitive Model Perloff Chapter 9.
Copyright 2000 Addison-Wesley Longman CHAPTER 18 CLIMATE CHANGE: ECONOMICS AND POLICY.
Chapter 19 Input Markets and the Origins of Class Conflict.
Unit 3: Microeconomics National Council on Economic Education Visual 3.1 Different Types of Market Structures.
Chapter 10 Exchange Rates and Exchange Rate Systems.
Question: What is worse for consumers than a Monopolist? Two monopolists. Vertical Markets: An analysis.
Chapter 12 Market Entry and the Emergence of Perfect Competition.
Chapter 29 Postwar Industry and Agriculture Copyright © 2007 Pearson Addison-Wesley. All rights reserved.
© 2010 Pearson Addison-Wesley CHAPTER 1. © 2010 Pearson Addison-Wesley.
Copyright © 2002 Pearson Education, Inc. Slide 1.
Copyright © 2008 Pearson Addison-Wesley. All rights reserved. Chapter 13 International Trade in Goods and Assets.
© 2008 Pearson Addison Wesley. All rights reserved Chapter Seven Costs.
Chapter Twelve Pricing and Advertising. © 2009 Pearson Addison-Wesley. All rights reserved Topics Why and How Firms Price Discriminate. Perfect.
PowerPoint Slides by Robert F. BrookerCopyright (c) 2001 by Harcourt, Inc. All rights reserved. Market Structure Perfect Competition Monopolistic Competition.
Chapter 3 Demand and Behavior in Markets. Copyright © 2001 Addison Wesley LongmanSlide 3- 2 Figure 3.1 Optimal Consumption Bundle.
Perfect Competition 14 Perfect Competition Theres no resting place for an enterprise in a competitive economy. Alfred P. Sloan CHAPTER 14 Copyright © 2010.
© 2010 Pearson Addison-Wesley. What Is Perfect Competition? Perfect competition is an industry in which Many firms sell identical products to many buyers.
Copyright McGraw-Hill/Irwin, 2002 Four Market Models Monopoly Examples Barriers to Entry The Natural Monopoly Case Monopoly Demand Monopoly Revenues.
Chapter Eleven Monopoly. © 2009 Pearson Addison-Wesley. All rights reserved Topics Monopoly Profit Maximization. Effects of a Shift of the Demand.
3 SUPPLY AND DEMAND II: MARKETS AND WELFARE. Copyright © 2010 Cengage Learning 7 Consumers, Producers, and the Efficiency of Markets.
When you have completed your study of this chapter, you will be able to C H A P T E R C H E C K L I S T Explain how monopoly arises and distinguish between.
Slides prepared by Thomas Bishop Copyright © 2009 Pearson Addison-Wesley. All rights reserved. Chapter 8 The Instruments of Trade Policy.
Copyright © 2008 Pearson Addison-Wesley. All rights reserved. Chapter 12 Keynesian Business Cycle Theory: Sticky Wages and Prices.
Chapter Eight Competitive Firms and Markets. © 2009 Pearson Addison-Wesley. All rights reserved. 8-2 Topics Competition. Profit Maximization. Competition.
3 SUPPLY AND DEMAND II: MARKETS AND WELFARE. Copyright © 2006 Thomson Learning 7 Consumers, Producers, and the Efficiency of Markets.
© 2016 SlidePlayer.com Inc. All rights reserved.