Chapter 6: Market Power and Market Distortions
This video complements discussion in Section 6.1 of Chapter 6 in Economic Essentials for Business, Management and Engineering. It examines the economic welfare impacts of various market structures is examined, including monopoly and monopsony, and the distortions caused by government policies (see also Section 6.2). The case study examines the supply-restricting marketing aspects of the Canadian dairy industry, also known as the quota regime in dairy.