I write a summary of market structure and how it affects the pricing and output strategy on the monopolistic and oligopoly market based on Keat, P., and Phillip Young. 2008. Managerial Economics, 6th edition. Pearson (KY) e-book. Monopolistic competition and oligopoly are considered “imperfect” competition because the company in these markets have the power to […]
Market Structure Pricing and Output Decision
I write a summary of market structure and how it affects the pricing and output decision based on Keat, P., and Phillip Young. 2008. Managerial Economics, 6th edition. Pearson (KY) e-book. The firm needs to establish its price and output levels to achieve its business objective of profit maximization. The pricing and output decision can […]