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Monopoly and Monopsony - Managerial Economics - Lecture Slides

Slides, Economics

Post: January 5th, 2013
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Monopoly and Monopsony, Monopoly Characteristics, Profit Maximization, Monopoly Markets, Social Costs, Social Benefits, Monopoly Regulation, Antitrust Policy, Competitive Strategy, Price Makers are the important key points of lecture slides of Managerial Economics.
Monopoly and Monopsony, Monopoly Characteristics, Profit Maximization, Monopoly Markets, Social Costs, Social Benefits, Monopoly Regulation, Antitrust Policy, Competitive Strategy, Price Makers are the important key points of lecture slides of Managerial Economics.
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Contents
Monopoly and Monopsony Chapter 12 docsity.com Chapter 12 OVERVIEW • • • • • • • • Monopoly Characteristics Profit Maximization in Monopoly Markets Social Costs of Monopoly Social Benefits From Monopoly Monopoly Regulation Monopsony Antitrust Policy Competitive Strategy in Monopoly Markets docsity.com Chapter 12 KEY CONCEPTS • monopoly • price makers • monopoly underproduction • deadweight loss from monopoly problem • wealth transfer problem • natural monopoly • • • • • • • • patents regulatory lag oligopsony monopsony monopsony power bilateral monopoly antitrust laws market niche docsity.com Monopoly Characteristics • Basic Features – – – – – A single seller. Unique product. Blockaded entry and/or exit. Imperfect dissemination of information. Opportunity for economic profits in long-run equilibrium. • Examples of Monopoly – Classic examples include electricity utilities, gas and sanitary services. – OPEC and the NCA..

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