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MERCADOS de COMPETENCIA IMPERFECTA + [EJEMPLOS] | Economía de la empresa segundo de bachillerato 10#
Introduction to Imperfectly Competitive Markets
In this chapter, we will explore imperfectly competitive markets, which are characterized by the absence of perfect competition. We will discuss three models of imperfect competition: monopolies, oligopolies, and monopolistic competition.
Monopolies
- Monopolies are markets where there is no competition as a single company dominates the market.
- The monopolist has the power to freely set prices and quantities of their product.
- State-controlled monopolies are justifiable for essential services like drinking water supply.
Oligopolies
- Oligopolies occur when a few companies share the entire market.
- Each company in an oligopoly has enough power to influence prices or quantities offered.
- Companies can choose between cooperating or competing with each other.
- Cooperation among oligopolistic firms can lead to cartel-like behavior, setting prices and quantities as if it were a monopoly.
- Cartels are generally forbidden in many countries due to their negative impact on society.
- Competition among oligopolistic firms encourages continuous innovation and benefits consumers.
Monopolistic Competition
- Monopolistic competition markets have many companies offering similar products but try to differentiate them through branding, quality, or design.
- Advertising plays a crucial role in highlighting product differentiation and attracting consumer demand.
- Dominant companies in monopolistic competition markets may have some influence over prices due to their large market share.
Conclusion
The presented models of imperfectly competitive markets serve as guides rather than strict rules. Real-world markets often exhibit characteristics from multiple models. Understanding these models helps analyze different market scenarios.
Timestamps provided above correspond to approximate positions in the video transcript.