C.7 Economies of scope
Description This video explains what economies of scope are. We analyse how different production possibility frontiers show different types of economies (or diseconomies) of scope. – The concept of...
View ArticleC.8 Learning curve
Description This video explains what the learning curve is. We start by learning how to build a learning curve, and then we compare two companies competing with the same learning curve. – The...
View ArticleC.9 Experience curve
Description This video explains what the experience curve is. We start by learning how to build an experience curve, then we compare two companies competing with the same learning curve, and finally...
View ArticleMonopoly I
Irving Fisher described monopolies as market structures where there is no competition. To neoclassical economists, a monopoly is the exact opposite to perfect competition. And an even simpler...
View ArticleMonopoly II
In the first Learning Path on monopolies, we learned about what they are, how they affect social welfare and we learned about a few types. In this second LP on monopolies, we’ll learn about a few more...
View ArticleOligopoly I
The bigger a firm is, the more efficient. Therefore, bigger and fewer firms in the market should mean lower prices and more goods produced. However, as we can see everyday, this is not really the case,...
View ArticleOligopoly II
In the previous Learning Path on oligopolies we learned what they are and what kinds of oligopolies exist. In this LP, we’ll learn about how oligopolists can collude in order to maximise their profits,...
View ArticleMonopolistic competition
The analysis of monopolies, oligopolies and perfect competition show us that neither is real. Monopolies and oligopolies (when collusion exists) are illegal and considered as really harmful for the...
View ArticleWelfare economics I
Welfare economics analyses different states in which markets or the economy can be. Its main objective is to find an indicator or measure in order to guarantee that markets are behaving optimally, thus...
View ArticleWelfare economics II
The analysis of welfare economics is built around the concept of Pareto efficiency. However, this efficiency criterion does not always represent a satisfactory answer. Other times, certain optimality...
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