This detailed lesson (35 slides) on oligopolies is a great introduction to a very important market structure. This lesson helps students fully understand why profits are maximised when marginal revenue equals marginal costs for oligopolies and focuses heavily on the kinked demand curve. The lesson looks at the following topics and includes various tasks and examples throughout.
* Oligopoly Introduction
* Kinked Demand Curve
* Game Theory
* Profit Maximisation
I have included various tasks for students to work on during the lesson and have linked to some great videos that help explain a potentially difficult topic. I have also included a great key diagram revision resource for kinked demand curves which has all the information students need on one simple and effective diagram. I have briefly introduced game theory - however this will be covered in a lot more detail in another of my lessons. This lesson is perfect for Economics.