• 2821 views

    Lec 3 - Lecture 7 - Theory of Monopoly Price Theory

    Lec 3 - Lecture 7 - Theory of Monopoly Price Theory. ECON 20100: The Elements of Economic Analysis E. Glen Weyl, Assistant Professor of Economics and the College "Theory of Monopoly Price Theory." The first part of this course discusses markets with one or a few suppliers. The second part focuses on demand and supply for factors of production and the distribution of income in the economy. This course also includes some elementary general equilibrium theory and welfare economics. This lecture begins the second half of the course, which focuses on imperfect competition. We begin by developing the basic incentive of a monopolist to reduce quantity in order to raise price and how to measure the inefficiency this creates. We consider some empirical measurements of these incentives and inefficiencies. We then consider the comparative statics of monopoly and how the rate at which the monopolist passes through cost changes into price changes measures many dimensions of her behavior. For readings associated with this lecture and slides, visit: http://www.glenweyl.com/teaching

    Video is embedded from external source so embedding is not available.

    Video is embedded from external source so download is not available.

    Channels:

    Tags: university chicago education business economics

    Uploaded by: ( Send Message ) on 28-08-2012.

    Duration: 79m 54s

    Here is the next lecture for this course

    Watch NEXT
    LECTURE
    2677 views     Lec 1 - Economics 119 - Lecture 3: Reference Dependence: Theory and

    Lec 4 - Lecture 4 (Turbo) - Perfect Competition

     01:17:46
    Lecture List | Course Details | Contents | Related

    No content is added to this lecture.

    Go to course:

    This video is a part of a lecture series from of University of Chicago