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Micro: Unit 4.1 -- Imperfectly Competitive Firms
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Hey Everyone! I'm Mr. Willis, and You Will Love Economics!
In this video, I will:
- Explain the key characteristics of imperfectly competitive firms
- Discuss how imperfectly competitive firms are "price makers"
- Analyze production differentiation
- Explain why imperfectly competitive firms need to use non-price competition
- Investigate why imperfectly competitive firms are productively inefficient in the
long-run
- Describe barriers to entry and how high barriers make it difficult for firms
to enter an imperfectly competitive industry and compete with dominant firms
Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video:
Follow our store on Teachers Pay Teachers
Look for us on Social Media:
Subscribe to our YouTube Channel:
In this video, I will:
- Explain the key characteristics of imperfectly competitive firms
- Discuss how imperfectly competitive firms are "price makers"
- Analyze production differentiation
- Explain why imperfectly competitive firms need to use non-price competition
- Investigate why imperfectly competitive firms are productively inefficient in the
long-run
- Describe barriers to entry and how high barriers make it difficult for firms
to enter an imperfectly competitive industry and compete with dominant firms
Are you looking to teach this topic in your class? We have designed an activity to fit perfectly with this video:
Follow our store on Teachers Pay Teachers
Look for us on Social Media:
Subscribe to our YouTube Channel:
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