Skip to Main Content
Economics
book

Economics

by Terry Hillman
July 2014
Beginner content levelBeginner
384 pages
8h 39m
English
DK Publishing
Content preview from Economics

CHAPTER12

Monopoly

In This Chapter

  • How the monopoly differs from a perfect competition
  • How a monopolist maximizes profits
  • The effect of the monopolist on society and the response from public policy
  • The monopolist and price discrimination

The monopoly is a market structure that is the antithesis of perfect competition. Where there are many firms in a perfectly competitive market, a monopoly controls the entire industry. The differences in the two market structures are stark.

The models with which we are familiar that assume perfect competition, where no firms can influence the market price, demonstrate what happens when one firm has market power—the ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Economics DeMYSTiFieD

Economics DeMYSTiFieD

Melanie Fox, Eric Dodge
Managerial Economics

Managerial Economics

Vanita Agarwal
Economics for Dummies

Economics for Dummies

Sean Masaki Flynn, PhD

Publisher Resources

ISBN: 9781615645022