ECON 262

In Class Exercise Sixteen – Competition and Monopoly

   1.   Competition from the old structuralist view sees monopolies as being anti-competitive by definition.  Explain.

   2. Competition from the process view involves two ideas - what are they?

        a.

        b.

    3.  What does it mean to say that competition is a discovery process?  What is discovered?

4.  What questions do you still have about this material?