Monopoly by James DeNicco

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About the Lecture

The lecture Monopoly by James DeNicco is from the course Principles of Microeconomics (EN). It contains the following chapters:

  • Entry Barriers in a Monopoly
  • A Monopoly's Revenue
  • A Monopoly's Profit
  • The Welfare Costs of a Monopoly
  • A Closer Look at Price Discrimination
  • Recap

Included Quiz Questions

  1. decreasing average total cost.
  2. increasing average total cost.
  3. decreasing marginal revenue.
  4. increasing marginal cost.
  1. The output effect tends to increase revenue and the price effect tends to decrease revenue.
  2. Both the output effect and the price effect tend to decrease revenue.
  3. Both the output effect and the price effect tend to increase revenue.
  4. The output effect tends to decrease revenue and the price effect tends to increase revenue.
  1. price > average total cost ; price > average total cost
  2. price > average total cost ; price = average total cost
  3. price = average total cost ; price > average total cost
  4. price = average total cost ; price = average total cost
  1. It allows different prices for different customers, decreasing the quantity sold, which decreases the deadweight loss.
  2. Price discrimination requires the ability to distinguish customers willingness to pay.
  3. Price discrimination can raise economic welfare.
  4. Price discrimination is a rational strategy for a profit maximizing monopolist.

Author of lecture Monopoly

 James DeNicco

James DeNicco


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