By the end of this chapter, you should understand:
- imperfect competition, oligopoly and monopolistic competition
- how cost and demand affect market structure
- how globalization changes domestic market structure
- equilibrium in monopolistic competition
- the tension between collusion and competition in a cartel
- game theory and strategic behaviour
- the concepts of commitment and credibility
- reaction functions and Nash equilibrium
- Cournot and Bertrand competition
- Stackelberg leadership
- why there is no market power in a contestable market
- innocent and strategic entry barriers
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