that monopolies reduce output,raise price,and in other ways act to gouge the public." Discuss. "Economists are wrong to argue that monopolies harm the public welfare.The public actually benefits from the existence of large monopolies that have the resources to invest in research and development,and that have the scale to use modern technology at its most efficient level."Discuss. (四)教学方法与手段 本章教学主要采用课堂讲授、多媒体教学、分组讨论、课堂讨论等。 Chapter 12 Between Competition And Monopoly (一)目的与要求 the goal here is to know 1.Understanding the characteristics of monopolistic competition 2.Understanding price and output determination under monopolistic competition 3.Understanding the market structure of oligopoly 4.Know about the basic concept of game theory (二)教学内容 1.主要内容 Monopoly Competition Oligopoly Monopolistic Competition,Oligopoly,And Public Welfare A Glance Backward:Comparing The Four Market Forms 2.基本概念和知识点 Monopolistic Competition;Oligopoly:Cartel:Price Leadership;Price War, Sales Maximization;Sticky Price;Kinked Demand Curve;Payoff Matrix;Dominant Strategy:Maxi-min Criterion;Nash Equilibrium,Zero-Sum Game;Repeated Game; Credible Threat;Perfectly Contestable Market 3.问题与应用（能力要求） In monopolistic competition,the differentiation of firms'products leads to negatively sloping demand curves,and this in tum leads toa long-run equilibrium characterized by excess capacity and costs that are above the minimum attainable.Do you believe the govemment should take action to standardize productsso as to make demand curves for monopolistic competitors more elastic,and thereby eliminate the wastefulness of excess capacity?Why or why not? Standardized products(for example,steel)characterize some oligopolistic markets,13 that monopolies reduce output, raise price, and in other ways act to gouge the public.” Discuss. “Economists are wrong to argue that monopolies harm the public welfare. The public actually benefits from the existence of large monopolies that have the resources to invest in research and development, and that have the scale to use modern technology at its most efficient level.” Discuss. （四）教学方法与手段 本章教学主要采用课堂讲授、多媒体教学、分组讨论、课堂讨论等。 Chapter 12 Between Competition And Monopoly （一）目的与要求 the goal here is to know 1. Understanding the characteristics of monopolistic competition 2. Understanding price and output determination under monopolistic competition 3. Understanding the market structure of oligopoly 4. Know about the basic concept of game theory (二）教学内容 1.主要内容 Monopoly Competition Oligopoly Monopolistic Competition, Oligopoly, And Public Welfare A Glance Backward: Comparing The Four Market Forms 2.基本概念和知识点 Monopolistic Competition; Oligopoly:Cartel:Price Leadership; Price War; Sales Maximization; Sticky Price; Kinked Demand Curve; Payoff Matrix; Dominant Strategy; Maxi-min Criterion; Nash Equilibrium;Zero-Sum Game;Repeated Game; Credible Threat; Perfectly Contestable Market 3.问题与应用（能力要求） In monopolistic competition, the differentiation of firms’ products leads to negatively sloping demand curves, and this in turn leads to a long-run equilibrium characterized by excess capacity and costs that are above the minimum attainable. Do you believe the government should take action to standardize products so as to make demand curves for monopolistic competitors more elastic, and thereby eliminate the wastefulness of excess capacity? Why or why not? Standardized products (for example, steel) characterize some oligopolistic markets