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Microeconomics | © John Petroff Source: PEOI |
Assignment A-5.1
List and explain the characteristics
of pure monopoly. Use
examples.
Assignment A-5.2
Identify the various forms of barriers contributing to
the
presence of a monopoly power in a product market.
Assignment A-5.3
Study demand and marginal revenue of a monopoly. Compare
them
to those of a firm in perfect competition. Comment on the
pattern of total revenue.
Assignment A- 5.4
Show graphically and explain how a monopoly determines
its
optimum quantity and price. Point out the area representing
its profits.
Assignment A-5.5
Establish the inefficiency of monopolies for society.
Present positive aspects of monopolies.
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