Economics 101 (#16) Monopoly (Market Structure 4)

The final market structure is ‘Monopoly‘ (and no, nothing to do with passing ‘GO’ and receiving €200). In fact, there are no competing players…theres only one firm which can use its unhindered market power to control price and quantity supplied – to earn maximum profitability and exclude other firms from competing with it.

After you study this, refer back to Econ 101 #11 to compare the short run (SR) and long run (LR) graphs of all 4 market structures.

Heres the PDF PIIGSTY Econ 101 #16 Monopoly


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This entry was posted on Friday, November 4th, 2011 at 18:16 and is filed under Economics 101. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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