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PART1 Hierarchies I Internal Organization
Organization of this Text 6 Summary
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advertising antitrust laws assets barriers to entry benefit brand buyers cartel Chapter charge competitive equilibrium competitive firm competitive industry competitors concentration conjectural variations consumer surplus Coumot Court customers deadweight loss demand curve discussed distributor dominant firm earn economies of scale effect efficient elasticity of demand entrant Equation example Figure firm produces firm's fixed costs fringe firms function higher incentive increase incumbent Journal of Economics less long-run lower price manufacturer marginal cost marginal revenue market power market structure maximize merger monopolistically competitive monopoly profits monopsony number of firms oligopoly OPEC optimal output level patent percent perfect competition period plant predatory pricing price discrimination problem purchase quantity raise rate of return regulation resale residual demand curve result rivals sell sellers short-run shows social Stigler strategic behavior strategy supply curve Suppose Table theory two-part tariff Type units vertical integration vertical restrictions welfare zero