Table of Contents
Monopolistic Competition & Oligopoly
Two More Market Structures
Monopolistic Competition
Who makes close substitutes for Wendy’s?
Closer to Pure Competition Than Pure Monopoly
Key Characteristic
Methods of Product Differentiation
Advertising Persuades!
Who Makes the Last Honest Pizza?
How many said, “Round Table?”
Advertising
Wounded Turkey Shoots Man
What Does This Mean?
Brand Names
Can you identify this seller?
Packaging
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Next, let’s look at some cost and revenue cures for the firm in monopolistic competition.
Short-Run Profit Maximization
Zero Economic Profit in the Long Run
Monopolistic Competition Vs. Perfect Competition
Oligopoly
Oligopolists
Models of Oligopoly
Model 1: Cartels
Requirements for Success
More About Cartels ...
Model 2: Price Leadership
Model 3: Cost-Plus Pricing
Model 4: Game Theory
A Special Oligopolist
Payoff Matrix
Duopoly Payoff Matrix
Model 5: The Kinked Demand Curve
Mergers and Oligopoly
Monopolistic Competition Conclusions
Conclusions on Oligopoly
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