Key Micro Diagrams when Revising Market Structures | A Level Economics

In this video we look through the key diagrams that help score high analysis marks in A Level Econonics questions on market structures. We cover perfect competition, monopolistic competition, oligopoly, monopoly and contestable markets

#aleveleconomics #economics

0:00 Introduction
0:17 PERFECT COMPETITION - SHORT RUN
0:59 PERFECT COMPETITION - LONG RUN ADJUSTMENT
1:29 MONOPOLISTIC COMPETITION-SHORT RUN
2:26 MONOPOLISTIC COMPETITION - LONG RUN
2:50 MONOPOLY PRICE AND OUTPUT
3:50 ECONOMIC CASE AGAINST MONOPOLY
4:36 NATURAL MONOPOLY
5:51 3RD DEGREE PRICE DISCRIMINATION
6:44 PEAK AND OFF-PEAK PRICING
7:35 KINKED DEMAND CURVE MODEL-OUTCOME
8:56 GAME THEORY - SIMPLE PRICING GAME
11:40 CONTESTABLE MARKETS PRICES AND PROFITS IN CONTESTABLE MARKETS

[shadowcrux]

At 13:04 why is the supernormal profit read off the MC curve instead of AC

[danielbinns]

This video has helped so much, thank you! I have my mock in 2 days and the video was perfect to make sure I know all the content 😁

[kristian]

With monopolistic competition, is it the new, differentiated products having a substitution effect on current consumers of a specific firm that leads to lack of profit in the long run? Ie, demand for a given firms product falls as a result of increased choice & potentially quality in the market? (causing the AR and MR to fall within for such firm)

[jordanw]

Thankyou! Is there any chance you'd be able to do a video on how to write and structure an essay introduction? I'm self-studying and haven't been able to find much on this!