TAILIEUCHUNG - Lecture Principles of Microeconomics: Chapter 10 - James D. Miller

Chapter 10 - Challenge to market effectiveness 1: Monopolies. After reading this chapter, you should be able to answer the following questions: What is monopoly? What are the barriers to entry? How is the demand curve for a monopoly? How does a monopoly decide quantity of output to produce? What are the social costs of monopoly? What is price discrimination? | Chapter 10 Challenge To Market Effectiveness 1: Monopolies McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All Rights Reserved. Learning Objectives What is monopoly? What are the barriers to entry? How is the demand curve for a monopoly? How does a monopoly decide quantity of output to produce? What are the social costs of monopoly? What is price discrimination? 10- Monopoly A pure monopoly is a firm without any competition. Pure monopolies do not exist in the real world. The fewer the substitutes there are for a firm’s products, the more monopolistic the firm is. A monopolist can earn long term profits if it keeps other firms from entering its market. Entry barriers stop firms from entering a market and destroying monopoly profits. 10- Barriers To Entry The Government: Licenses: By limiting entry licenses allow members of protected professions to earn monopoly profits, . teachers, lawyers. Outlawing competition: Government can outlaw .

• Kinh tế học
• Principles of Microeconomics
• Lecture Principles of Microeconomics
• Market effectiveness
• Monopolist pricing
• Marginal revenue
• Price discrimination
• Ten principles of economics
• Scarce resources
• Scarcity implies choice
• Choice implies cost
• Thinking like an economist
• Economic models
• Circular flow diagram
• Production possibilities frontier
• The gains from trade
• Production possibilities
• Comparative advantage
• Absolute advantage
• Market forces
• Supply and demand
• Market economies
• Competitive markets
• Price elasticity of demand
• Price elasticity
• Midpoint method
• Demand curves
• Controls on prices
• Price ceiling
• Price floor
• Market outcomes
• Market failures
• Negative externalities
• Positive externalities
• Market inefficiency
• Public goods
• Common resources
• Types of goods
• Cost benefit analysis
• Tax system
• Federal government
• Marginal tax rate
• Budget surplus
• Costs of production
• Total revenue
• Total cost
• Opportunity costs
• Firms in competitive markets
• Average revenue
• Sunk costs
• Monopoly resources
• Government created monopolies
• Natural monopolies
• Monopoly’s revenue
• Monopolistic competition
• Nash equilibrium
• Equilibrium for oligopoly
• Game theory
• Long run equilibrium
• Perfect competition
• Production possibility frontier
• Opportunity cost
• Rational people
• Indirect effects
• Law of demand
• Factors change demand
• Law of supply
• Market demand
• Demand intersect
• Demand determine prices
• Change in demand
• Change in supply
• Elastic demand curve
• Policy analysis with supply
• Policy analysis with demand
• Wealth creation
• Production cost
• Total surplus
• International trade
• Additional benefits of trade
• Average costs
• Break even price
• Increasing marginal costs
• Long run analysis
• Firms profit graphically
• Accounting profit
• Antitrust laws
• Disruptive innovation in oligopolies
• Predatory pricing