This lesson is on firms and decisions and looks at the spectrum of market competition or the four different market structures: Perfect Competition (PC), Monopolistic Competition (MC), Oligopoly and Monopoly. Students will learn how to draw the economic diagrams for all market structures, supernormal, subnormal and normal profits. The videos will also cover the policies used to control market power.
Video 1 Duration: 2 hours 13 minutes
Video 2 Duration: 2 hours 36 minutes