Monopolistic Competition in the Long-Run

This Monopolistic Competition in the Long-Run video also includes:

Watch as a great economics instructor illustrates a monopolistically competitive firm in long-run equilibrium on a graph, and then compares it to perfect competition.

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CCSS: Adaptable
Concepts

Classroom Considerations

  • Learners should understand such concepts as socially optimal quantity and dead weight loss before beginning video
  • Appropriate for an advanced placement economics class
Pros

  • Explains each segment to add to graph in a step-by-step process
  • Identifies classic mistakes when drawing monopolistic graph, and offers tips on how to avoid those mistakes
Cons

  • None
Common Core