This video was recorded at 14.01SC Principles of Microeconomics, Fall 2011. Models are easy to construct, but they may not always exactly match reality. While we assume that firms maximize profits, this may not always be true, and in this lecture we start to learn why. We also start to think about how we can measure the welfare that consumers gain from participating in a market.
You are being taken to the material on
another site. This will open a new window.
Rate this Material
You just viewedLecture 12: Competition III.
Please take a moment to rate this material.
Search by ISBN?
It looks like you have entered an ISBN number. Would you like to search using what you have
entered as an ISBN number?
Searching for Members?
You entered an email address. Would you like to search for members? Click Yes to continue. If no, materials will be displayed first. You can refine your search with the options on the left of the results page.