Define: monopolistic competition, product differentiation, oligopoly, cartel theory

Describe how 'product differentiation' benefits a monopolistic competitor

Describe the 'Kinked Demand Curve' theory.

Discuss two reasons why cartels are difficult to maintain.

Explain the NCAA as a buying cartel.

Using the 'prisoners dilemma' account in the outline, what is the dominant (best) strategy for both Al and Bill?

Perform some outside internet research and provide three (real world) examples of oligopoly and cartel.