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Similaire à Oligopoly Market Structures Explained
Similaire à Oligopoly Market Structures Explained (20)
Oligopoly Market Structures Explained
- 1. Oligopoly
- 8. The Kinked Demand Curve quantity $ D P* Q*
- 9. MR Curve for the top part of the Demand Curve quantity $ D MR P* Q*
- 10. Drawing MR Curve for the bottom part of the Demand Curve quantity $ D MR P* Q*
- 11. MR Curve for the bottom part of the Demand Curve quantity $ D MR P* Q*
- 12. The Kinked Demand Curve and the MR Curve quantity $ D MR Q* P*
- 13. The MC curve intersects the MR curve in the vertical segment. quantity $ D MR Q* P* MC
- 14. If costs shift up slightly, but MC still intersects MR in the vertical segment, there will be no quantity $ D MR Q* P* MC MC’ change in price. This price rigidity is seen in real world oligopoly markets.
- 15. The ATC curve can be added to the graph. To show positive profits, part of ATC curve must lie under part of the demand curve. quantity $ D MR Q* P* MC ATC
- 16. The ATC* value can be found on the ATC curve above Q*. quantity $ D MR Q* P* MC ATC ATC*
- 17. TC = ATC . Q quantity $ D MR Q* P* MC ATC ATC*
- 18. TR = P . Q quantity $ D MR Q* P* MC ATC ATC*
- 19. Profit = TR - TC quantity $ D MR Q* P* MC ATC ATC* profit
- 20. To show a firm with a loss, the ATC curve must be entirely above the demand curve. quantity $ D MR Q* P* MC ATC ATC* loss AVC
- 21. To show a firm breaking even, the ATC curve must be tangent to the demand curve at the kink. quantity $ D MR Q* ATC*= P* MC ATC
- 33. Three Types of Mergers