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MONOPOLY etc.

MONOPOLY etc. Reasons for Monopoly Demand Vs. MR for a Monopolist MR and Elasticity Short Run Equilibrium of a Monopolist MR = MC, Lerner Index Monopolist has no Supply Curve Monopoly Problems Multi-plant Monopolist Price Discriminating Monopolist Monoposony – read on your own.

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MONOPOLY etc.

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  1. MONOPOLY etc. • Reasons for Monopoly • Demand Vs. MR for a Monopolist • MR and Elasticity • Short Run Equilibrium of a Monopolist • MR = MC, Lerner Index • Monopolist has no Supply Curve • Monopoly Problems • Multi-plant Monopolist • Price Discriminating Monopolist • Monoposony – read on your own. • Monopolistic Competition • Game Theory

  2. MONOPOLY • Monos polein (single seller) • Reasons for Monopoly • Barriers to entry • Legal barriers to entry (patents, utilities etc) • Natural Monopoly (Large Fixed costs, downward sloping AC & MC) • Imperfect factor Mobility

  3. NATURAL MONOPOLY

  4. Monopoly TR, AR & MR

  5. Monopoly TR, AR & MR

  6. MR and Elasticty

  7. SR Equilibrium

  8. Calculus Approach – SR Equilibrium

  9. MR, MC and the Lerner Index

  10. Problems from the Book Pg 388 • EX 4, • 5a-c • 6a-b • 7 • 8 • 9 • 11 • 3

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