Difference between revisions of "Microeconomics market structures/Introduction to imperfect competition"

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Here you will learn about imperfect competition and the two models that fall under it: monopolistic competition and oligopoly. We will also touch upon game theory through the Prisoner's Dilemma Model and a discussion of the Nash Equilibrium.
 
Here you will learn about imperfect competition and the two models that fall under it: monopolistic competition and oligopoly. We will also touch upon game theory through the Prisoner's Dilemma Model and a discussion of the Nash Equilibrium.
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{{IDevice

Latest revision as of 09:51, 30 June 2016


Here you will learn about imperfect competition and the two models that fall under it: monopolistic competition and oligopoly. We will also touch upon game theory through the Prisoner's Dilemma Model and a discussion of the Nash Equilibrium.


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Objectives

Upon successful completion, you will be able to:

  • identify the characteristic differences between the previously-studied market structures and imperfectly competitive markets, and discuss differences in their operations; and
  • compare and contrast as well as discuss the three main kinds of economic systems.


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