PPT-Media monopoly

Assessing the current situation McChesneys argument The mediademocracy paradox It is a political crisis 1 the nature of our corporate commercial media system has dire implications for our politics and broader culture. 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’.. 1 Monopoly GB Instructions 5/10/00 10:24 am Page 1  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. What does monopoly mean?. . “. monos. ” = one “. polein. ” = seller. Not a new phenomenon .  Thales, Aristotle. Necessary conditions. Single seller . Examples: most public utility companies and patented drugs.. 5. 24. 3. 11. Why are Entry Barriers. Sometimes High?. Entry Barriers. A few examples of factors that may serve as . ‘. barriers. ’. to free entry into a market:. economies of scale. government licensing. 5.3.3. Learning Outcomes. To understand the meaning of the term ‘monopoly’.. To appreciate what is meant by monopoly power and how this can influence a firm’s behaviour.. To understand the main disadvantages and advantages of a firm having monopoly power. . 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.’ . 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. 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. 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 . One firm selling good or service with no substitutes. Barriers to entry that prevent competition from new firms. What is a monopoly?. Monopoly in the news. Natural. One firm can meet demand at a lower ATC than two or more firms. 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.. Students will be able to identify and/or define the following terms:. Monopoly. Natural Monopoly. Patent. Do . Now. What is a barrier to entry?. Any condition that makes it difficult to enter a market..