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j l
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Decks in this class (8)
Long run theory of costs
Long run avg cost,
Assumptions in lr avg cost curve,
Shape of lrac
13
cards
Evaluation of Perfect Competition (PC)
Importance of efficiency in resou...,
Merits of pc firms,
Demerits of pc firms
10
cards
Characteristics of monopoly
Monopoly definition,
Single dominant producer,
No close substitutes
5
cards
Barriers to entry
Substantial barriers to entry,
Economic barriers to entry,
Substantial eos
6
cards
Collusive oligopoly
Define collusive oligopoly,
Collusive oligopoly example,
Factors that facilitate collusion
20
cards
Non-collusive oligopoly
Define non collusive monopoly,
Rigid pricing,
Why do firms that don t collude n...
3
cards
Evaluation of oligopoly
Merits,
Demerits,
Dynamic efficiency
8
cards
Characteristics of monopolistically competitive firm
Characteristics,
Large no of sellers,
Product differentiation
5
cards
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Econs vol 3
- Class purpose General learning
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