| Managerial Economics and Business Strategy, 4/e Michael Baye,
Indiana University - Bloomington
Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets
Chapter OutlineHeadline: McDonald’s Adds New Tastes and Products to Menu Boards - Introduction
- Perfect Competition
- Demand at the Market and the Firm
- Short-Run Output Decisions
- Maximizing Profits
- Minimizing Losses
- Short-Run Operating Losses
- The Decision to Shut Down
- The Short-Run Firm and Industry Supply Curves
- Long-Run Decisions
- Monopoly
- Monopoly Power
- Sources of Monopoly Power
- Economies of Scale
- Economies of Scope
- Cost Complementarily
- Patents and Other Legal Barriers
- Maximizing Profits
- Marginal Revenue
- The Output Decision
- The Absence of a Supply Curve
- Multiplant Decisions
- Implications of Entry Barriers
- Monopolistic Competition
- Conditions for Monopolistic Competition
- Profit Maximization
- Long-Run Equilibrium
- Implications of Product Differentiation
- Optimal Advertising Decisions
- Answering the Headline
- Summary
- Key Terms and Concepts
- Conceptual and Computational Questions
- Problems and Applications
- Selected Readings
- Appendix: The Calculus of Profit Maximization
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