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| Version | User | Scope of changes |
|---|---|---|
| Nov 11 2007, 1:08 AM EST (current) | welkerjason | 1 word added, 1 word deleted |
| Oct 28 2007, 11:36 AM EDT | welkerjason |
Changes
Key: Additions Deletions
An introduction to pure monopoly
Monopoly demand
Output and price determination
Economic effects on monopoly
Price determinationDiscrimination
Regulated monopoly
- Examples of monopoly
- Dual objectives of the study of monopoly
- Economies of scale
- Legal barriers to entry: Patents and Licenses
- Ownership or control of essential resources
- Pricing and other strategic barriers to entry
Monopoly demand
- Marginal revenue is less than price
- The monopolist is a price maker
- The monopolist sets prices in the elastic region of demand
Output and price determination
- Cost data
- MR=MC rule
- No monopoly supply curve
- Misconceptions concerning monopoly pricing
- possibility of losses by monopolist
Economic effects on monopoly
- Price, Output, and Efficiency
- Income transfer
- Cost Complications
- Assessment and policy options
Price determinationDiscrimination
- Conditions
- Examples of price discrimination
- Graphical analysis
Regulated monopoly
- Socially optimal price: P=MC
- Fair-return price: P=ATC
- Dilemma of regulation
