Wednesday, March 24, 2010
Monopolistic Competition and Oligopoly
OBJECTIVES
Students shall be able to
define monopoly,
explain why it is hard to identify a monopoly,
explain the relationship among demand elasticity and market power,
identify examples of government restrictions that create market power,
define price taker,
define price searcher, and
evaluate the notion of administered prices.
ACTIVITIES
Students shall take a quiz over McConnell & Brue chapter 25.
Assignments:
McConnell & Brue chapter 25 quiz.
ASSESSMENT PROCEDURES
Monitor and adjust as necessary. Grade the quiz.