Monopoly and Monopsony - Managerial Economics - Lecture Slides, Slides for Economics. Acharya Nagarjuna University

Economics

Description: 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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Monopoly and Monopsony
Chapter 12
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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
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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
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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 NCAA are popular examples.
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