Pure Competition and Monopoly: A Beginning

Robert E. Kuenne
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Robert E. Kuenne: Princeton University

Chapter 7 in Price and Nonprice Rivalry in Oligopoly, 1998, pp 153-173 from Palgrave Macmillan

Abstract: Abstract To gain a foothold in the analytics of the firm’s decisions we will begin with firms that are either price takers in their markets or, at the other extreme, monopolists. Such firms make decisions concerning price, quantity and quality policy variables for their brands, which are treated in 1 to 1 correspondence with firms. In this chapter quality is viewed as a one-dimensional variable which is measurable with uniqueness up to a positive multiplicative scalar, where z denotes units of its intensity. The implications of the firms’ decisions for their own profit, for consumers’ surplus, and for social surplus are considered under varying structural conditions.

Keywords: Marginal Cost; Market Structure; Consumer Surplus; Price Taker; Marginal Revenue (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50371-7_7

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DOI: 10.1007/978-0-230-50371-7_7

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