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  • CH 11: Price and Output Under Oligopoly Market

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    Shakir Ahmad
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    The document discusses oligopoly market structures and models for price and output determination. It covers the Cournot demand curve model, kinked demand curve model, and models of collusion including centralized cartels, market-sharing cartels, and price leadership. Oligopoly is characterized by a small number of firms, significant market shares and product differentiation, and barriers to entry.

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    ManEco_Salvatore_Chapter_11_Oligopoly.pptx

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    The document discusses oligopoly market structures and models for price and output determination. It covers the Cournot demand curve model, kinked demand curve model, and models of collusion including centralized cartels, market-sharing cartels, and price leadership. Oligopoly is characterized by a small number of firms, significant market shares and product differentiation, and barriers to entry.

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    19 views8 pages

    CH 11: Price and Output Under Oligopoly Market

    Uploaded by

    Shakir Ahmad
    The document discusses oligopoly market structures and models for price and output determination. It covers the Cournot demand curve model, kinked demand curve model, and models of collusion including centralized cartels, market-sharing cartels, and price leadership. Oligopoly is characterized by a small number of firms, significant market shares and product differentiation, and barriers to entry.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 8

    Ch 11 : Price and Output under

    Oligopoly Market
    Different Market Structures

    • PERFECT COMPETITION • MONOPOLISTIC COMPETITION


    • Many firms • Many firms
    • Identical products • Firm size small
    • Full knowledge • Product differentiation limited
    • No barriers to entry of firms • Easy entry and exit of firms
    • MONOPOLY • OLIGOPOLY
    • 1 firm in market • Few firms in the market
    • Firm market share 100% ( concentration ratio >= 50%)
    • Unique product • Large market shares
    • Complete barriers to entry • Significant product differentiation
    possible
    • Significant Market power
    • Difficult to enter market
    • Control over price
    • Pure and Differentiated
    Cournot Demand Curve Model
    Kinked Demand Curve Model
    Collusion: Cartels and Price Leadership
    Models

    • Centralized (overt cartel-explicit-legal)


    • Market-sharing
    • Price Leadership (implicit-Tacit )
    Centralized Cartel
    Market-Sharing Cartel
    Price Leadership

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