Microeconomics - Unit 6 Imperfect Market Structures

MICRO UNIT 6  KEY STUDY GUIDE TERMS & CONCEPTS

Imperfect Competition

Deadweight Loss

Pure Monopoly

Natural Monopoly

Monopolist Profit Maximization

Elastic and Inelastic Portion of Demand 

Characteristics of Monopoly

Price maker

lump sum tax / subsidy effect

per unit  tax / subsidy effect

Unregulated Monopoly

Regulated Monopoly

Fair return Price

Single Price Monopoly

Price Discriminating Monopoly

patents

socially optimal level of output

economies of scale

Monopolistic Competition

excess capacity

differentiated product

Oligopoly / Duopoly

cartel

collusion

prisoners dilemma

Game Theory

payoff matrix

Nash equilibrium

dominant strategy

POWERPOINTS & NOTES
ASSIGNED VIDEOS
Instructor:  Mr.Magnani
 Kevin_Magnani@wrsd.net