PPT-Advocatory monopoly :

European experience Ignas Vėgėlė President of the Lithuanian Bar R epresentation in courts solely by advocates in the Supreme Court from the 1 of January 2017 in courts . 1. . Graphs and Tables Copyright . © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.. Antitrust policy. Main purpose. : prevent monopolization, promote competition, and achieve . allocative. MOSCOW 2012 June 8. Simon P. Anderson, University of Virginia, USA. a. nd. Yves Schneider, University of Lucerne Switzerland. Back-drop. Cruise-ship mergers; can they be pro-competitive? (D . Scheffman. Banking Trade: . seigniorage. , risk-shifting, and more. By Marcus . Miller and Lei . Zhang. University of Warwick . 1. 2. ‘There are few ways a man may be more innocently employed than in getting money’.. • How Monopolies Form and Survive: Barriers to Entry. • How a Profit-Maximizing Monopoly Chooses Output and Price. • What are the Welfare Effects of a Monopoly. A . pure. monopoly is where . one. Inefficiency of Monopoly. Competitive Outcome. P = P. C. = MC. Q = Q. C. Monopoly Outcome. P. M. > P. C. = MC. Q = Q. M. < Q. C. MR. D. MC. Q. M. P. M. Q. C. Comp. Monop. CS. PS. Welfare. DWL. Types of Market Structure. Four principal models of market structures:. Perfect Competition. Many producers sell identical product. Monopoly. Single producer sells a single, undifferentiated product. Monopoly. Opposite of PC. Occurs when output of entire industry is produced and sold by a single firm referred to as . Monopolist. Characteristics of . Pure Monopoly. Single supplier . – . the firm and the industry are the same.. Copyright © 2017 Pearson Education, Inc. All Rights Reserved. Is Any Firm Ever Really a Monopoly?. We define monopoly.. Monopoly. is a market structure consisting of a firm that is the only seller of a good or service that does not have a close substitute.. Pure (or Perfect). Competition. Pure Monopoly. Number of Firms. VERY large number of firms. Only ONE firm. The firm IS the industry. Price making abilities of individual firms. Each firm is so small that changes in its own output do not affect market price, i.e. firms are price takers. AP Microeconomics. Mr. Bordelon. Quantity (Megawatts). Price. per Megawatt. Total Cost. 1. $550. $1,000. 2. 500. 1,075. 3. 450. 1,200. 4. 400. 1,375. 5. 350. 1,600. 6. 300. 1,875. 7. 250. 2,200. 8. 200. Chapter 8. McGraw-Hill/Irwin. Copyright © . 2015 . by . McGraw-Hill Education (Asia). . All rights reserved.. Learning Objectives. Distinguish among three types of imperfectly competitive industries and describe how imperfect competition differs from perfect competition. Marginal Revenue (MR): . Change. in the firm’s total revenue resulting from a . one unit change. in production.. Marginal Cost (MC): . Change. in the firm’s total cost resulting . from . a . one unit change . The word Monopoly is a combination of two words in which “mono” implies “single” and “poly” means “seller”. Therefore, the market controlled by a sole trader is said to a Monopoly market.. What are the four . barriers to entry. .. Why . monopolists. are constrained by demand.. How . monopolists. set price and quantity.. What . social welfare. losses are associated with monopolies.. What the common public policy responses to monopolies are..