英文10垄断竞争课件

Click to edit Master title style,Click to edit Master text styles,Second Level,Third Level,Fourth Level,Fifth Level,Four Types of Industries,Four Types of Industries,Imperfectly Competitive Markets,Monopoly,Monopolistic Competition,Many firms selling products that are similar but not identical.,Oligopoly,Only a few sellers,each offering a similar or identical product to the others.,Imperfectly Competitive Marke,The Four Types of Market Structure,Monopoly,Oligopoly,Monopolistic Competition,Perfect Competition,Tap water,Cable TV,Tennis balls,Crude oil,Novels,Movies,Wheat,Milk,Number of Firms?,Type of Products?,Many firms,One firm,Few firms,Differentiated products,Identical products,The Four Types of Market Struc,Monopolistic Competition,Monopolistic Competition,Monopolistic Competition,Markets that have some features of competition and some features of monopoly.,Monopolistic CompetitionMarket,Attributes of Monopolistic Competition,Many sellers,Product differentiation,Free entry and exit,-,Attributes of Monopolistic Com,Many Sellers,There are many firms competing for the same group of customers.,Product examples include books,CDs,movies,computer games,restaurants,piano lessons,cookies,furniture,etc.,Many SellersThere are many fir,Product Differentiation,Each firm produces a product that is at least slightly,different,from those of other firms.,Rather than being a price taker,each firm,faces a downward-sloping demand curve.,Product DifferentiationEach fi,Free Entry or Exit,Firms can enter or exit the market,without restriction,.,The number of firms in the market adjusts until economic profits are,zero.,Free Entry or ExitFirms can en,Monopolistic Competitors in the Short Run.,(a)Firm Makes a Profit,Quantity,0,Price,Demand,MR,ATC,Profit,MC,Profit-,maximizing quantity,Price,Average,total cost,Monopolistic Competitors in th,Monopolistic Competitors in the Short Run.,Quantity,0,Price,Demand,MR,Losses,(b)Firm Makes Losses,MC,ATC,Average,total cost,Loss-minimizing quantity,Price,Monopolistic Competitors in th,Monopolistic Competition in the Short Run,Short-run economic profits,encourage new firms to,enter the market,.This:,Increases the number of products offered.,Reduces demand faced by firms already in the market.,Incumbent,（传统运营商）,firms demand curves shift to the left.,Demand for the incumbent firms products fall,and their profits decline.,Monopolistic Competition in th,Monopolistic Competition in the Short Run,Short-run economic losses,encourage firms to,exit the market,.This:,Decreases the number of products offered.,Increases demand faced by the remaining firms.,Shifts the remaining firms demand curves to the right.,Increases the remaining firms profits.,Monopolistic Competition in th,The Long-Run Equilibrium,Firms will enter and exit until the firms are making exactly,zero economic profits.,The Long-Run EquilibriumFirms,A Monopolistic Competitor in the Long Run.,zero economic profits,Quantity,Price,0,Demand,MR,ATC,MC,Profit-maximizing,quantity,P=,ATC,A Monopolistic Competitor in,Two Characteristics of Long-Run Equilibrium,As in a monopoly,price exceeds marginal cost.,Profit maximization requires marginal revenue to equal marginal cost.,The downward-sloping demand curve makes marginal revenue less than price.,Two Characteristics of Long-Ru,Two Characteristics of Long-Run Equilibrium,As in a competitive market,price equals average total cost.,Free entry and exit drive economic profit to zero.,Two Characteristics of Long-Ru,Monopolistic versus Perfect Competition,There are two noteworthy differences between monopolistic and perfect competition,excess capacity,（超额的产能）,and,markup,（加价）,.,Monopolistic versus Perfect Co,Excess Capacity,There is excess capacity in monopolistic competition in the long run.,In monopolistic competition,output is less than the efficient scale of perfect competition.,Excess CapacityThere is excess,Excess Capacity.,Quantity,(a)Monopolistically Competitive Firm,(b)Perfectly Competitive Firm,Quantity,Price,P=MR,(demand curve),MC,ATC,Price,Demand,MC,ATC,Excess capacity,Quantity,produced,Efficient,scale,P=MC,Quantity,produced,=Efficient,scale,P,Excess Capacity.Quantity(a),Excess Capacity,There is no excess capacity in perfect competition in the long run.,Free entry results in competitive firms producing at the point where average total cost is minimized,which is the,efficient scale,of the firm.,Excess CapacityThere is no exc,Markup Over Marginal Cost,For a competitive firm,price equals marginal cost.,For a monopolistically competitive firm,price exceeds marginal cost.,Markup Over Marginal CostFor a,Markup Over Marginal Cost,Because price exceeds marginal cost,an extra unit sold at the posted price means more profit for the monopolistically competitive firm.,Markup Over Marginal CostBecau,Markup Over Marginal Cost.,Quantity,(a)Monopolistically Competitive Firm,(b)Perfectly Competitive Firm,Quantity,Price,P,=,MC,P,=,MR,(demand curve),MC,ATC,Quantity,produced,Price,P,Demand,Marginal,cost,MC,ATC,MR,M