Slide 1Copyright©2004 South-Western 15 Monopoly Slide 2 Copyright © 2004 South-Western While a competitive firm is a price taker, a monopoly firm is a price maker. Slide…

Slide 1Copyright©2004 South-Western 15 Monopoly Slide 2 Copyright © 2004 South-Western What’s Important in Chapter 15 Sources of Monopolies (= Price Makers = Market Power)…

1. Market Structures: Monopoly 2. Monopoly Assumptions One seller and many buyers Implication: The…

Copyright©2004 South-Western 15 Monopoly Copyright © 2004 South-Western •  While a competitive firm is a price taker, a monopoly firm is a price maker. Copyright ©…

Slide 1 © 2007 Thomson South-Western Slide 2 Monopoly While a competitive firm is a price taker, a monopoly firm is a price maker. A firm is considered a monopoly if...…

Slide 1 Copyright © 2004 South-Western WHAT IS A COMPETITIVE MARKET? A perfectly competitive market has the following characteristics: There are many buyers and sellers…

Slide 1 Chapter 9 Monopoly and Monopsony Slide 2 Key Concepts  monopoly  price maker  Barriers to entry  deadweight loss  natural monopoly  patent  monopsony…