Reffonomics.com

6.1 Monopoly

Unit 6: Imperfect Competition

Steven M. Reff
Economics Lecturer
University of Arizona
(2007 - 2016)
The 2015 University of Arizona
Five-Star Faculty Award

6 hours - 7 hours max.

15% - 20% of exam

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

• Unit 6: Imperfect Competition (Monopoly, Oligopoly, Monopolistic Competition) (10%–15%)

• Topic 6.1   Monopoly:
                        • Sources of market power
                        • Profit maximization
                        • Inefficiency of monopoly
                        • Price discrimination
                         •Natural monopoly
• Topic 6.2   Oligopoly:
                        • Interdependence, collusion, and cartels
                        • Game theory and strategic behavior with payoff matrix
                        • Dominant strategies and Nash equilibrium
• Topic 6.3   Monopolistic competition:
                        • Product differentiation and role of advertising
                        • Profit maximization
                        • Short-run and long-run equilibrium
                        • Excess capacity and inefficiency

eVideos -- Short Videos:

eWorkbook Activities Interactive:

eTextbook Reading:

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

5.2 Oligopoly

eTextbook Reading:

5.3 Monopolistic Competition

eVideos -- Short Videos:

eWorkbook Activities Interactive:

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

eTextbook Reading:

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

R eview Graphs: Oligopoly (Advertise vs. Not-to Advertise)

Oligopoly and Game Theory (Questions)

M onopoly III: (Monopoly vs. Perfect Competition Graph)

Monopolistic Competition (Questions)

Monopolistic Competition (Drag and Drop Graph)

Monopoly, Part I

Monopoly, Part II

Monopoly, Part III

Monopolistic Competition

Lesson 28: Oligopoly

Monopoly Silent Movie, Part I

Reffonomics Baseball (Unit 5: Monopoly)

Monopoly Silent Movie, Part II

Monopoly: II: (Graphs and Questions)

Monopoly V: (Natural Monopoly Graphing Questions)

Monopoly VI: (N atural Monopoly)

Monopoly I: (Drag, Drop, and Draw Monopoly Graphs)

Monopoly (True and False Questions)

Monopolistic Competition Firm Graph, Part I

Monopolistic Competition Firm Graph, Part II

Monopolistic Competition Firm Graph, Part III

Monopolistic Competition Firm Graph, Part IV

Monopolistic Competitive Firm Silent Movie, Part I

Oligopoly, Matrix 1 (Prisoners' Dilemma)

Oligopoly Matrix 2 (Going on a Date)

Oligopoly Matrix 3 (Advertise or Not Advertise)

Reffonomics Baseball (Monopolistic Competition and Oligopoly)

Oligopoly Matrix 4 (Create Your Own)

Monopoly, Part 1 (27 questions)

Monopoly, Part II (15 questions)

Oligopoly, Part I (15 questions)

Oligopoly, Part II (11 questions)

Monopoly (MR and P) Part II

Monopoly Characteristics

Monopoly (D, MR, and TR, Part I)

Monopoly (MR and P) Part I

Monopoly (MC) Part I

Monopoly (ATC)

Monopoly (Profit, Break Even, Loss)

Monopoly (MC) Part II

Monopoly (NOT Allocatively Efficient)

Monopoly (NOT Productively Efficient)

Prisoner's Dilemma, Part II

Prisoner's Dilemma, Part I

Oligopoly Matrix (How to Read a Matrix, Part I)

Oligopoly Characteristics

Monopolistic Competition (Profit, Break Even, Loss)

Monopolistic Competition Characteristics

Monopolistic Competition Advertising

Monopolistic Competition (Entry and Exit)

Oligopoly Matrix (How to Read a Matrix, Part II

Monopoly (D, MR, and TR, Part II)

eREVIEW: Monopoly

eVideos -- Short Videos:

eWorkbook Activities Interactive:

M onopoly VIII: (Single Price Non-Discrimination vs. Price Discrimination)

Monopoly IX: (Lump-Sum and Per-Unit Tax and Subsidy)

Monopoly VII: (Monopoly Graph and Natural Monopoly Graph Questions)

R eview Graph: Monopoly (Graph)

R eview Graph: Monopoly (ATC Curve, Profit, Loss)

R eview Graph: Monopoly (Monopoly vs. Perfect Competition Graphs)

R eview Graph: Monopoly (Natural Monopoly Graph)

Review Graphs: Monopolistic Competition

eREVIEW: Oligopoly

eREVIEW: Monopolistic Competition

Monopoly and Monopolistic Competition

O ligopoly

eTEST Your Knowledge -- Units 6.1 - 6.3

CLEP® Principles of Microeconomics Course Preparation

NOTE: This website is not a College Board® sponsored website. Everything on this
website can be used by teachers or students to get a better understanding of their
college-level Principles of Microeconomics course.

(3 min. or less, along with 3 multiple choice questions)

V iew T eachers' and
Students'
Testimonials