TAILIEUCHUNG - Lecture Microeconomics (20/e): Chapter 12 - Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn

Chapter 12 - Pure monopoly. This chapter is divided into seven learning objectives: the characteristics of pure monopoly, the barriers to entry that create and protect monopolies, how demand is viewed by a monopolist, price and output determination under monopoly, the economic effects of monopoly, price discrimination, and the regulation of monopolies. | Chapter 12 Pure Monopoly Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. This chapter is divided into seven learning objectives: the characteristics of pure monopoly, the barriers to entry that create and protect monopolies, how demand is viewed by a monopolist, price and output determination under monopoly, the economic effects of monopoly, price discrimination, and the regulation of monopolies. The discussion of barriers to entry asserts at the outset that these barriers may occur to some extent in any form of imperfect competition, not just in a pure monopoly. The concept of a natural monopoly is addressed in this section. Building on the analysis of the preceding chapter, the discussion of the price‑output decision-making by monopoly firms points out that the marginal-revenue=marginal-cost rule still applies. Emphasis here is on the major difference between the determination of

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• Lecture Microeconomics
• Economic problem
• Economic principles
• Economic policies
• Pure monopoly
• Monopoly demand
• Microeconomics theory
• Microeconomics applications
• Kinh tế vĩ mô
• Scope of microeconomic theory
• Normative analyses
• Demand curves
• Supply curves
• Consumer choice
• Theory of consumer choice
• Consumption choices
• Substitution effects
• Consumer choice theory
• Excise subsidies
• Economic efficiency
• Competitive equilibrium
• Relating output to inputs
• Empirical estimation
• Cost of production
• Shortrun cost
• Profit maximization
• Perfectly competitive markets
• Competitive model
• Excise taxation
• Monopolist’s demand
• Marginal revenue curves
• Product pricing
• Monopoly power
• Monopolistic competition
• Cournot model
• Game theory
• Economics of information
• Noncompetitive market models
• Iterated dominance
• Input demand curve
• Leisure choice
• Wage rates
• Minimum wage
• Hidden costs
• General equilibrium analysis
• Public goods