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This lecture was delivered by Shankar Nagre at Indian Institute of Management (IIM) for Micro Economics course. It includes: Pure, Monopoly, Barriers, Entry, Demand, Price, Marginal, Cost, Revenue, Profit, Misconception, Discrimination
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Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Barriers to Entry
Essential Resources
Strategic Barriers to Entry
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Price and Marginal Revenue
Selling 3 Units at $
Lowered to $
Price
Minus $30 (3x$10)
Curve
Determine Other
MR Points
The Constructed Marginal Revenue Curve
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Monopoly Revenue and Costs
Revenue and Cost Data of a Pure
Monopolist
(1) Quantity Of Output
(2) Price (Average Revenue)
(3) Total Revenue (1) X (2)
(4) Marginal Revenue
(5) Average Total Cost
(6) Total Cost (1) X (5)
(7) Marginal Cost
(8) Profit (+) or Loss (-)
0 1 2 3 4 5 6 7 8 9
10
$ 162
152
142 132
122 112
102
92 82
72
$ 162
304
426 528
610 672
714
736 738
720
$
142 122
102
82 62
42 22
2
$190.
$ 190
270
340 400
470 550
640
750 880
1030
$ 80
70 60
70
80 90
110 130
150
$-
Revenue Data Cost Data
] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ] ]
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Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
By A Pure Monopolist
P m =$
Economic Profit
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Concerning Monopoly Pricing
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Price, Output, and Efficiency
Purely Competitive Market
Pure Monopoly
Minimum ATC
P (^) c
Qc
P (^) c
P (^) m
Qm Qc
Pure Competition is Efficient
Monopoly Price is Greater Than MC
a
b
c
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Price, Output, and Efficiency
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Representative Highly Competitive
Foreign Multinational Corporations
GLOBAL PERSPECTIVE
Company (Country) Main Products
Bayer (Germany)
BP Amoco (United Kingdom
Michelin (France)
NEC (Japan)
Nestlé (Switzerland)
Nokia (Finland)
Royal Dutch/Shell (Netherlands)
Royal Philips (Netherlands)
Sony (Japan)
Toyota (Japan)
Unilever (Netherlands)
Chemicals
Gasoline
Tires
Computers
Food Products
Wireless Phones
Gasoline
Electronics
Electronics
Automobiles
Food Products
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
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Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
Dilemma of Regulation
Monopoly Price
Fair-Return Price
Socially Optimal Price
P (^) r
r
f
b
P (^) f a
P (^) m
Qm Qf Qr
Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit Maximization Misconceptions Loss Minimization Economic Effects of Monopoly Price Discrimination Regulated Monopoly Last Word
Key Terms
End Show
