Perfect markets achieve efficiency: maximizing total surplus generated. But real markets are imperfect. In this course we will explore a set of market imperfections to understand why they fail and to explore possible remedies including as antitrust policy, regulation, government intervention. Examples are taken from everyday life, from goods and services that we all purchase and use. We will apply the theory to current events and policy debates through weekly exercises. These will empower you to be an educated, critical thinker who can understand, analyze and evaluate market outcomes.
3.3.3 Monopolistic Competition: Graphical Presentation in the Short Run
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Compétences que vous apprendrez
Externality, Economics, Microeconomics, Market (Economics)
Avis
23 oct. 2018
Love how the videos were brief, but informative. Very helpful class and exams weren't overly complicated. In the end, I felt as though I retained much of the knowledge.
4 avr. 2020
In the beginning, it started to clear out my basics. As we got closer to the end of the course, it related the theoretical knowledge gained to the practical scenario.
À partir de la leçon
Monopoly Continued
Monopolies come in various types: one price monopoly, natural monopoly, price discrimination and monopolistic competition. This week we will expand the basic monopoly model to cover these cases and then explore market outcomes in each case. We will also discuss how government may intervene in such cases to benefit society as a whole and increase the surplus generated by the market.
Enseigné par
Rebecca Stein
Senior Lecturer
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