ECO101H1 Lecture Notes - Imperfect Competition, Concentration Ratio, Perfect Competition

60 views7 pages
5 Sep 2012
School
Department
Course
Professor
elizabethkandelaki and 40134 others unlocked
ECO101H1 Full Course Notes
98
ECO101H1 Full Course Notes
Verified Note
98 documents

Document Summary

We can"t abide to needy and industries into two broad groups those within large number of relatively small firms and those with a small number of relatively large firms. About 2/3 of canada"s total annual of output is reduced by industry is made up of firms that are small relative to the size of the market in which they sell. These are the ones in which individual firms produce more and less identical products and so are priced takers. Many basic raw materials such as iron, tin, copper, oil, and paper, are sold on world markets where most individuals firms lack significant market power. The theory of monopolistic competition, each originally developed to help explain economic behavior and outcomes in industries, in which there are many small firms each awaits a market power. About 1/3 canada"s total annual output is produced by industries that are dominated by either single firm or one a few large ones.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related textbook solutions

Related Documents

Related Questions