Lecture Notes for ECON 115 - Introductory Microeconomics at Yale (Yale)

Notes Information

Material Type:Class Note
Class:ECON 115 - Introductory Microeconomics
University:Yale University
  • Public Utilities
  • Public Ownership
  • Small Number
  • Government Regulation
  • Price Discrimination
  • Monopoly Power
  • Natural Monopoly
  • Economic Cost
  • Technological
  • Discrimination
Login / Sign Up to View Document
Preview Page 1Preview Page 2Preview Page 3Preview Page 4Preview Page 5Preview Page 6

Sample Document Text

Monopoly 1. Types of market structure 2. The diamond market 3. Monopoly pricing 4. Why do monopolies exist? 5. The social cost of monopoly power 6. Government regulation 7. Price discrimination 1 Announcements . We are going to cover sections 10.1-10.4, sections 11.1-11.2, and for all practical purposes skip chapter 12. . Ben Friedman will speak in class on March 23 on his book The Moral Consequences of Economic Growth 2 Types of Market Structure In the real world there is a mind-boggling array of di?erent markets. . In some markets, producers are extremely competitive (e.g. grain) . In other markets, producers somehow coordinate actions to avoid di- rectly competing with each other (e.g. breakfast cereals) . In others, there is no competition (e.g. flights out of Tweed-New Haven airport). In general we classify market structures into four types: . perfect competition - many producers of a single, unique good. . monopoly - single producer of an unique good (e.g. cable TV, diamonds, pa...

Related Documents

Market Position Notes
Competitive Market Structure Notes
Onion Rings Exam
Competitive Market Structure Exam
Competitive Market Structure Notes
Provided That Quiz
Marginal Cost Curve Exam
Product Differentiation Notes
Out of Pocket Costs Exam
Explicit Cost Exam
Total Variable Costs Quiz
Environmental Justice Notes
Congregation Exam
Average Fixed Costs Exam
American Imperialism Exam
Congregation Exam
155, "/var/app/current/tmp/"