4.2 — Consequences and Sources of Market Power — Class Notes
Contents
Wednesday, November 4, 2020
Overview
Today we continue our look at market power, by looking at the social consequences of market power: deadweight loss, allocative inefficiency, x-inefficiency, and rent-seeking; as well as the primary causes: barriers to entry of various sorts.
Readings
See today’s suggested readings.
Slides
Practice Problems
Answers from last class’ practice problems. are posted on that page.
Assignments: Problem Set 5 (Due Sun Nov 8)
Homework 5 (on 3.1-3.5) is due by PDF upload to Blackboard by 11:59 PM Sunday November 8. This is likely your final graded homeworkIn the past, I have always released a HW 6 on Imperfect Competition just for practice for the Final Exam.