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曼昆《经济学原理》 的题目及课后答案答案ch17
Chapter 17
Monopolistic Competition
17 MONOPOLISTIC
COMPETITION
WHAT’S NEW IN THE THIRD EDITION:
A new summary table has been added that compares monopolistic competition
to monopoly and perfect competition.
LEARNING OBJECTIVES:
By the end of this chapter, students should understand:
competition among firms that sell differentiated products.
how the outcomes under monopolistic competition and under perfect
competition compare.
the desirability of outcomes in monopolistically competitive markets.
the debate over the effects of advertising.
the debate over the role of brand names.
CONTEXT AND PURPOSE:
Chapter 17 is the final chapter in a five-chapter sequence dealing with firm behavior and the
organization of industry. Chapters 14 and 15 developed the two extreme forms of market
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structure—competition and monopoly. The market structure that lies between competition and monopoly
is known as imperfect competition. There are two types of imperfect competition—oligopoly, which was
addressed in the previous chapter, and monopolistic competition, which is the topic of the current
chapter. The analysis in this chapter is again based on the cost curves developed in Chapter 13.
The purpose of Chapter 17 is to addressmonopolistic competition—a
market structure in which many firms sell products that are similar but
not identical. Recall, oligopoly differs from perfect competition because
there are only a few sellers in the market. Monopolistic competition
differs from perfect competition because each of the many sellers offers
a somewhat different product. As a result, monopolistically competitive
firms face a downward-sloping demand curve while competitive firms face
a horizontal demand curve at the market price. Monopolistic competition
is extremely common.
KEY POINTS:
1.A monopolistically
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