PPT-Monopoly and Public Policy

Graph Time Regular Monopoly Natural Monopoly Welfare Effects of Monopoly Under a perfect competition the market price is the sales price leading to an efficient outcome both productively and allocatively . 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’.. Banking Trade. :. seigniorage. , risk-shifting, and more. Marcus Miller and Lei . Zhang. University of Warwick . 1. ‘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. 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.. Slide 2 presents a table that can be printed for each student. For best results, use "landscape" page orientation.. Slides 3 through 10 plots and draws marginal revenue, marginal cost, average total cost, and average revenue (demand), respectively.. (1740-1796). Chris . Nierstrasz. . (University of Warwick). Non-state actor . vs. State actor. 17 November 1757, Van der Parra to Van Eck:. ‘It is essential not to accede to the request of the Armenians of Madras, and if feasible also to achieve an interdiction on the sending of cloths by the Moors and merchants from the Malabar. This is to clear the way for those, who would otherwise be prevented from making an acceptable profit, and who would find themselves in [financial] difficulties because of these heathens.’ . 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. MARKET STRUCTURE . in which only . ONE . seller sells a product for which there are no close substitutes.. A monopoly is . A PRICE SETTER. , . RESTRICTS THE MARKET . and. IS THE ONLY SELLER.. Monopoly. The US justice department filed antitrust charges against Microsoft. In 2000 the court declared that Microsoft was a monopoly.. In 2008, the European Commission sent Intel Corp. a new set of antitrust charges for abuse of dominant position with the goal of excluding its main rival from the x86 central processing units market. Lecture 11. Formation defenses and performance excuses Lecture outline General principles for enforcing contracts Regulating contracts Formation defenses (irrationality, dire constraints) Performance excuses (impossibility, frustration of purpose, mistakes) 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.. DR. MRIGANKA DE SARKAR. ASSOCIATE PROFESSOR OF ECONOMICS. CONTACT: et_mit@yahoo.co.in. Monopoly: Why?. Natural monopoly (increasing returns to scale), e.g. (parts of) utility companies?. Artificial monopoly.