Topic 13: Market Structures

Content

A) Introduction

v       Market Structure

v       Elements of Market Structure

         

B) Competition

v       Definition

v       Types of Competition

Ø      Price Competition

Ø      Non-price Competition

v       Features of Perfect Competition

v       Price Determination under Perfect Competition

v       Output Determination under Perfect Competition

C) Monopoly

v       Definition

v       Features of Monopoly

v       Creation of Monopoly

v       Price Determination under Monopoly

v       Output Determination under Monopoly

v       Profit Maximization

v       Normal and Abnormal Profit

v       Arguments for Monopoly

v       Arguments against Monopoly

v       Comparing Perfect Competition and Monopoly

D) Nationalization

v  Definition

v  Arguments for Nationalization

v  Arguments against Nationalization

E) Privatization

v  Definition

v  Arguments for Privatization

v  Arguments against Privatization