Economics

Unit 2 | Topic 4.3 | Monopolistic Competition and Oligopoly

What are the characteristics of monopolistic competition and oligopoly?

Objectives

• Describe characteristics and give examples of monopolistic competition.

• Explain how firms compete without lowering prices.  

• Understand how firms in a monopolistically competitive market  set output.

• Describe characteristics and give examples of oligopoly.

Procedure

1. Review the Aim and notes from your initial text read.

2. Participate in the corresponding lesson topic presentation, revising notes.

3. Watch corresponding video(s); further revising notes.

4. Complete teacher instructed assignments.

Extension

• Prepare for your next class session by reading the next topic section in your text, recording alphanumeric/Cornell notes.

• Complete the next topic's Interactive Reading Notepad.