Course Objectives

 

 1.   Explain how monopoly arises and distinguish between single-price monopoly and price-discriminating monopoly.

 2.   Explain how a single-price monopoly determines its output and price. 

 3.   Compare the performance of a single-price monopoly with that of perfect competition.

 4.   Explain how price discrimination increases profit. 

 5.   Explain why monopoly can sometimes achieve a better allocation of resources than competition can. 

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