Mostly summarized from Gregory Mankiw’s Principles of Economics, 5th Ed.

PART 5 Firm Behavior and the Organization of Industry

Chapter 16 of 36 Monopolistic Competition

Section 1 of 15

…

Chapter 16 – Monopolistic Competition - Topics

Between Monopoly and Perfect Competition

Competition With Differentiated Products

The Monopolistically Competitive Firm In the Short Run

The Long-Run Equilibrium

Monopolistic Versus Perfect Competition

Monopolistic Competition and the Welfare of Society

Insufficient Variety As a Market Failure

The Debate Over Advertising

Advertising and the Price of Eyeglasses

Advertising As a Signal of Quality

Brand Names

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