Chapter 12
Dr. Merrill
Economics Department
Chapter 12
The Monopoly Model
Barriers to Entry
Monopoly Price
Monopoly MR
Monopoly Profit
Price Elasticity: 1
Revenue & Elasticity
Demand & Elasticity
Price & MR
Price Discrimination: 1
Price Discrimination: 2
Price Discrimination: 3
Monopoly vs. Competition
Producer Surplus
Redistribution
Economies of Scope
Gains From Monopoly
Equilibrium Wages
Chapter 13
Oligopoly
Oligopoly
Evaluating Oligopoly
Concentration Ratios
HHI Index
Coordinating Decisions
Kinked Demand: 1
Kinked Demand: 2
Dominate Firm
Game Theory
Contestable Markets
Collusive Agreements
Cartels
Monopolistic Competition : 1
Monopolistic Competition : 2
Monopolistic Competition : 3
Monopolistic Competition : 4
Monopolistic Competition : 5
Chapter 14
The Four Factors
Factor Demand
Labor Demand: 1
Labor Demand: 2
Labor Demand: 3
Labor Demand: 4
Labor Elasticity
Labor Supply: 1
Labor Supply: 2
Labor Market Realities
Capital Supply: 1
Capital Supply: 2
Land Supply
Economic Rent
Transfer Earnings
Inelastic Supply
Elastic Supply
Chapter 15
Skilled Labor
Union’s Objectives
Union Wages
Monopsony: 1
Monopsony: 2
Monopsony: 3
Wage Differences
Chapter 16
Sources of Funds
Stocks & Flows
Investment Decisions
Net Present Value
Present Value
MRP of Capital
Demand for Capital
Supply of Capital
Equilibrium rate
Natural Resources
Hotelling Principle
Resource Demand
Conservation
Chapter 17
Uncertainty
Risk Neutrality
Risk Aversion
Insurance: 1
Insurance: 2
Information
Advertising: 1
Search Goods
Private Information
Moral Hazard
Adverse Selection
Financial Risks
Rational Expectations