Overview
Explain the concept of market and distinguish it from the market place. Distinguish between perfect and imperfect markets by being able to identify their features. Draw graphs to illustrate price and quantity determination under :a)perfect competition (b)monopoly(c) oligopoly
What you'll learn
- Concept and types of markets.
- Review of cost and revenue curves.
- Price and quantity determination under perfect competition, monopoly, duopoly and oligopoly.