Wednesday, March 24, 2010

Monopolistic Competition and Oligopoly

OBJECTIVES 

Students shall be able to

1. define monopoly,

2. explain why it is hard to identify a monopoly,

3. explain the relationship among demand elasticity and market power,

4. identify examples of government restrictions that create market power,

5. define price taker,

6. define price searcher, and

7. evaluate the notion of administered prices.

 

ACTIVITIES

1. Students shall take a quiz over McConnell & Brue chapter 25.

Assignments:

1. McConnell & Brue chapter 25 quiz.

 

ASSESSMENT PROCEDURES

Monitor and adjust as necessary. Grade the quiz.