MONOPOLY
MONOPOLY
MONOPOLY RESOURCES
GOVERNMENT-CREATED
MONOPOLIES
NATURAL MONOPOLIES
Monopoly
Competitive Firm
A MONOPOLYS REVENUE
Total Revenue
P Q = TR
Average Revenue
TR/Q = AR = P
Marginal Revenue
TR/ Q = MR
A MONOPOLYS REVENUE
A MONOPOLYS REVENUE
PROFIT MAXIMIZATION
PROFIT MAXIMIZATION
A MONOPOLYS PROFIT
Profit = TR TC
Profit = (TR/Q TC/Q) Q
Profit = (P ATC) Q
A MONOPOLISTS PROFIT
REGULATION
REGULATION
PUBLIC OWNERSHIP
DOING NOTHING
PRICE DISCRIMINATION
EXAMPLES OF PRICE
DISCRIMINATION
Movie tickets
Airline prices
Discount coupons
Financial aid
Quantity discounts
SUMMARY
SUMMARY
SUMMARY
SUMMARY
SUMMARY