Monopoly basics Ch. 10
Profit-Maximization - 10.1-10.3
derive the MR curve
profit maximizing output and price
elasticity of demand
inverse elasticity pricing rule
monopoly losses and shutdown rule
Monopoly Power and Its Effects - 10.4-10.6
measurement of monopoly power
sources of monopoly power
barriers to entry
effect of potential entrants
efficiency - CS, PS, dead weight loss
dynamic analysis
antitrust laws
price ceiling applied to monopoly
Using Monopoly Power - Price Discrimination-11.1-11.3
first, second, and third-degree
necessary conditions
Oligopoly and Game Theory Ch. 12-13
Basic Oligopoly -12.2, 12.4
mutual interdependence
Cournot Model
reaction curves
Stackelberg Model
Dominant Firm Model
elasticity and residual demand
cartel and collusion
cartel benefits
perfect comp. demonstration
dominant firm cartel demonstration
cartel failure
Basic Game Theory - 13.1-13.2
part of game
payoff matrix
nash equilibrium
prisoner?s dilemma
MARKET FAILURE - Ch. 19
Public Goods Problems - 19.1-19.2
nonrival
nonexclusion
free rider problem
social marginal benefit
efficient output
Externalities - 19.3-19.4
external cost/benefit
tax and subsidy
property rights
Coase Theorem