Presentation is loading. Please wait.

Presentation is loading. Please wait.

monopoly market: patented fun!

Published byYandi Chandra Modified over 5 years ago

Similar presentations

Presentation on theme: "monopoly market: patented fun!"— Presentation transcript:

1 monopoly market: patented fun!
overview one role: the market monopolist each round: choose how many pallets of pharmaceuticals to ship this affects the market price of your product Market demand is known. Marginal revenue and marginal cost information are provided. monopoly market 9A Playground for Decisions 9

2 start screen current market condition 9 monopoly market www.moblab.com
9A Playground for Decisions 9

3 your game screen current number of pallets. increase pallets. 9
monopoly market 9A Playground for Decisions 9

4 your game screen market price at current number of pallets 9
monopoly market 9A Playground for Decisions 9

5 your game screen market price at new number of pallets 9
monopoly market 9A Playground for Decisions 9

6 your game screen to remove pallet, click trash icon 9 monopoly market
9A Playground for Decisions 9

7 your game screen cost and revenue information. show graph. 9
monopoly market 9A Playground for Decisions 9

8 market graph click button to go back to game 9 monopoly market
9A Playground for Decisions 9

9 your game screen click submit to finalize shipment 9 monopoly market
9A Playground for Decisions 9

10 profit screen 9 monopoly market www.moblab.com
9A Playground for Decisions 9

11 your game screen view previous rounds 9 monopoly market www.moblab.com
9A Playground for Decisions 9

12 payoffs an example profit = quantity x (price - cost)
Suppose inverse market demand is P = 8 – 0.25Q Marginal cost is constant at $2 per pallet Suppose 4 units are produced Market price is P = (4) profit = quantity x (price - cost) monopoly market 9A Playground for Decisions 9

13 payoffs happy playing! an example profit = quantity x (price - cost)
Suppose inverse market demand is P = 8 – 0.25Q Marginal cost is constant at $2 per pallet Suppose 4 units are produced Market price is $7 profit = quantity x (price - cost) $20 4 ($7 $2) monopoly market 9A Playground for Decisions 9

Download ppt "monopoly market: patented fun!"

Similar presentations

Question: What is worse for consumers than a Monopolist? Two monopolists. Vertical Markets: An analysis.

Question: What is worse for consumers than a Monopolist? Two monopolists. Vertical Markets: An analysis.
Chapter 17 The Age of Entrepreneurship: Monopoly.

Chapter 17 The Age of Entrepreneurship: Monopoly.
Oligopoly A monopoly is when there is only one firm.

Oligopoly A monopoly is when there is only one firm.
Monopoly.

Monopoly.
13 OLIGOPOLY.

13 OLIGOPOLY.
Monopoly Demand Curve Chapter 15-2. The Demand Curve Facing a Monopoly Firm  In any market, the industry demand curve is downward- sloping. This is the.

Monopoly Demand Curve Chapter The Demand Curve Facing a Monopoly Firm  In any market, the industry demand curve is downward- sloping. This is the.
Lectures in Microeconomics-Charles W. Upton Applying the Monopoly Model.

Lectures in Microeconomics-Charles W. Upton Applying the Monopoly Model.
CHAPTER 12. MONOPOLY McGraw-Hill/IrwinCopyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved.

CHAPTER 12. MONOPOLY McGraw-Hill/IrwinCopyright © 2008 by The McGraw-Hill Companies, Inc. All rights reserved.
March 25, 2006Teck Ho Overview of Experiment 2 Markets, A and B Each Market lasts for 6 rounds Each group plays 3 times in Market A and 3 times in Market.

March 25, 2006Teck Ho Overview of Experiment 2 Markets, A and B Each Market lasts for 6 rounds Each group plays 3 times in Market A and 3 times in Market.
Game Theory Lecture Jan 18. In Bertrand’s model of oligopoly A)Each firm chooses its quantity as the best response to the quantity chosen by the other(s).

Game Theory Lecture Jan 18. In Bertrand’s model of oligopoly A)Each firm chooses its quantity as the best response to the quantity chosen by the other(s).
THE NATURE OF MONOPOLY Microeconomics Made Easy by William Yacovissi Mansfield University © William Yacovissi All Rights Reserved.

THE NATURE OF MONOPOLY Microeconomics Made Easy by William Yacovissi Mansfield University © William Yacovissi All Rights Reserved.
Possible Barriers to Entry “a market served by a single firm” 14 Monopoly.

Possible Barriers to Entry “a market served by a single firm” 14 Monopoly.
Chapter Twenty-Six Factor Markets. A Competitive Firm’s Input Demands u A purely competitive firm is a price- taker in its output and input markets. u.

Chapter Twenty-Six Factor Markets. A Competitive Firm’s Input Demands u A purely competitive firm is a price- taker in its output and input markets. u.
Multiplant Monopoly Here we study the situation where a monopoly sells in one market but makes the output in two facilities.

Multiplant Monopoly Here we study the situation where a monopoly sells in one market but makes the output in two facilities.
1 Government production Should the government produce as a monopolist or try to act like a competitive firm?

1 Government production Should the government produce as a monopolist or try to act like a competitive firm?
Please make your selection... 1.Choice One 2.Choice Two 3.Choice Three.

Please make your selection... 1.Choice One 2.Choice Two 3.Choice Three.
Monopoly KW Chap. 14. Market Power Market power is the ability of a firm to affect the market price of a good to their advantage. In declining order.

Monopoly KW Chap. 14. Market Power Market power is the ability of a firm to affect the market price of a good to their advantage. In declining order.
Figure 8.2 How a Competitive Firm Maximizes Profit

Figure 8.2 How a Competitive Firm Maximizes Profit
The Production Decision of a Monopoly Firm Alternative market structures: perfect competition monopolistic competition oligopoly monopoly.

The Production Decision of a Monopoly Firm Alternative market structures: perfect competition monopolistic competition oligopoly monopoly.
Introduction to Monopoly. The Monopolist’s Demand Curve and Marginal Revenue Recall: Optimal output rule: a profit-maximizing firm produces the quantity.

Introduction to Monopoly. The Monopolist’s Demand Curve and Marginal Revenue Recall: Optimal output rule: a profit-maximizing firm produces the quantity.

Similar presentations

Ads by Google