## Economic Theory of The Industry |

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### Contents

Classical theories of oligopoly | 17 |

the gametheoretic approach | 37 |

A consideration of the effects of potential entry | 56 |

Monopoly power in vertically related markets | 82 |

Models of product differentiation | 107 |

Advertising | 128 |

Technical change and market structure | 142 |

The determinants of market structure | 166 |

A guide to the empirical work | 189 |

Notes | 213 |

223 | |

238 | |

### Common terms and phrases

advertising intensity alternative analysis assume assumption average cost barriers to entry basic behaviour capital cartel chapter choose collusion competitive industry conjectural consider constant consumer surplus cost curve cost function Cournot demand curve determinants developed discussed distribution downstream effect elasticity of demand empirical entry barriers equation equilibrium established firm example extent factors figure firm's fixed costs framework given Herfindahl Herfindahl index important increase influence innovation input involved joint profit maximisation large number limit price marginal cost marginal revenue market power market structure maximise profits measure merger monopolist monopoly non-cooperative number of firms oligopolistic oligopoly optimal outcome output level parameters particular payoffs perfect competition period players possible potential entrant price discrimination price-cost margin problem product differentiation reaction function relationship relevant result scale economies Schmalensee solution Stackleberg strategy suggested sunk costs variable vertical integration welfare welfare economics zero