Warm up 4/29/13 166-171 1.What are the four conditions of monopolistic competition? 2.How do economists determine whether a market is an oligopoly? 3.What.

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Presentation transcript:

Warm up 4/29/ What are the four conditions of monopolistic competition? 2.How do economists determine whether a market is an oligopoly? 3.What are 3 examples of nonprice competition?

Warm up 4/30/13 p What is the purpose of antitrust laws? 2.Under what conditions will the government approve a merger? 3.How does predatory pricing hurt competition?

Warm up 5/1/13 p What type of market structure has many buyers and sellers? 2.What kind of market structure runs most efficiently when one large firm supplies all the output? 3.What is one kind of monopoly the U.S. government generally permits?

Warm up 5/2/13 p What is an oligopoly? 2.What is a cartel? 3.What is a price war?

Warm up 5/3/13 p Think about a favorite possession. What do you think the value of that possession is? 2.How do you determine the value of that object? 3.What is money?