2.2.3 Monopoly vs Perfect Competition: Numerical Example

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From the course by University of Pennsylvania
Microeconomics: When Markets Fail
240 оценки
University of Pennsylvania
240 оценки
From the lesson
Monopoly
A monopoly is a case where there is only one firm in the market. We will define and model this case and explain why market power is good for the firm, bad for consumers. We will also show that society as a whole suffers from the lack of competition.

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  • Rebecca Stein
    Rebecca Stein
    Senior Lecturer
    Economics

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