Difference between collusive-competitive oligopoly models

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Reference no: EM131108059

a) Please explain the difference between the collusive and competitive oligopoly models and explain the role that the number of firms and barriers to entry play in determining how real-world oligopolistic industries behave.

b) Show graphically and explain how a monopoly results in a deadweight loss. Also point out the redistribution that takes place in society because of monopoly. (*edit: You don't have to give graph if you do not know it, though it would be nice. I mainly need the explanation and to point out the redistribution that takes place)

Reference no: EM131108059

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