https://padlet.com/madeline_g_mccollor/deibyhzcxw9j By: Maddy McCollor en-us 2016-11-02 15:03:16 UTC 2025-11-06 21:21:43 UTC hello@padlet.com madeline_g_mccollor https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134809834 An economist might say that Starbucks is perfectly competing in a monopolistically competitive market structure. Because you just need an espresso maker and some beans, market entry is easy. But to be successful, you need something unique–the monopolistic part. Starbucks, through its beans, its barista training and its store design competed successfully. Also, facing monopolistic competition in large cities like NY and Chicago, they needed a store on every block.

]]> 2016-11-02 15:13:34 UTC https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134809834 madeline_g_mccollor https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134810313 2016-11-02 15:14:39 UTC https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134810313 madeline_g_mccollor https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134810466 -No significant barriers to enter/exit the market, therefore the markets are contestible
-Differentiation creates diversity, choice and utility
-Market is more efficient than monopoly, they may be dynamically efficient

]]> 2016-11-02 15:15:00 UTC https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134810466 madeline_g_mccollor https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134810543 -Some differentiation does not create utility but generates unnecessary waste, such as excess packaging. Advertising may also be considered wasteful, though most is  informative rather than persuasive
-There is allocative inefficiency in both the long and short run. This is because prices are above marginal cost in both cases.
-In the long run the firm is less efficient]]> 2016-11-02 15:15:11 UTC https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134810543 madeline_g_mccollor https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134810897 https://www.youtube.com/watch?v=3TWfp1pvxHY


]]> 2016-11-02 15:15:57 UTC https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134810897 madeline_g_mccollor https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134811163 2016-11-02 15:16:26 UTC https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/134811163 madeline_g_mccollor https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/135136094 2016-11-03 15:59:13 UTC https://padlet.com/madeline_g_mccollor/deibyhzcxw9j/wish/135136094