Random Fact

Median income for households in the United States fell to $51,017 in 2012 from $51,100 in 2011. Asians had the highest household incomes ($68,600), followed by whites ($57,000), Hispanics, ($39,000), and African Americans (33,300) (www.census.gov).

Unit 8: Monopolistic Competition and Oligopoly

Introduction
Section 1: Characteristics of a Monopolistically Competitive Industry
Section 2: Short-Run and Long-Run Profit Maximization for a Firm in Monopolistic Competition
Section 3: Characteristics of an Oligopoly Industry
Section 4: Oligopoly and Game Theory
Test Your Knowledge!