Monopoly

16 Lessons 49 mins

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Tutorial Lessons

Introduction to a Monopoly

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Natural Monopoly

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Control of a Physical Resource

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Legal Monopoly

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Promoting Innovation

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Intimidating Potential Competition

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Summing Up Barriers to Entry

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Key Concepts and Summary

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Demand Curves Perceived by a Perfectly Competitive Firm and by a Monopoly

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Total Cost and Total Revenue For a Monopolist

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Marginal Revenue and Marginal Cost For a Monopolist

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Illustrating Monopoly Profits

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The Inefficiency of Monopoly

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Key Concepts and Summary

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