Perfect Competition & Monopoly

Overview

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This course empowers you to analyze how firms behave in two key market structures: perfect competition and monopoly. You will learn to determine how competitive firms make profit-maximizing decisions and contrast this with how monopolies leverage market power and barriers to entry to set prices. This knowledge provides a crucial framework for evaluating business strategies, price discrimination, and the real-world impact of government regulation.

Syllabus

Perfect Competition & Monopoly

This course focuses on two fundamental market structures. It begins with a thorough examination of perfect competition, shedding light on its key attributes and the crucial concepts of maximizing profits and determining when to shut down operations. The course then transitions to the study of monopolies, scrutinizing their distinctive features, including market control and barriers to market entry. Additionally, it explores the intricacies of regulatory interventions, considering the efficacy of tools such as price caps and profit regulations in mitigating monopolistic dominance.