Economics (McConnell), 18th EditionChapter 11:
Monopolistic Competition and Oligopoly (+ Appendix)IN THIS CHAPTER YOU WILL LEARN: - The characteristics of monopolistic competition.
- Why monopolistic competitors earn only a normal profit in the long run.
- The characteristics of oligopoly.
- How game theory relates to oligopoly.
- Why the demand curve of an oligopolist may be kinked.
- The incentives and obstacles to collusion among oligopolists.
- The potential positive and negative effects of advertising.
- (Appendix) About additional game theory terminology and applications.
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