Supply

In this lesson, we develop several key concepts that are necessary to understand most digital markets. The first is network effects and the various types of network effects. The second is multisided platforms and the inc...

In this lesson, we develop several key concepts that are necessary to understand most digital markets. The first is network effects and the various types of network effects. The second is multisided platforms and the inc...

In this lesson, we develop two benchmark models of competition. The first is perfect competition, which represents a conceptual model of how markets work under certain extreme, often unrealistic, assumptions such as trad...

In this lesson, we bring together the concepts of demand and supply to determine the market clearing price and quantity. Further, we examine the natural market forces that move markets to an equilibrium. We also discuss...