Economics (McConnell), AP* Edition, 20th EditionChapter 12:
Pure MonopolyAfter studying this chapter, you should be able to: LO 12.1 | List the characteristics of pure monopoly. | LO 12.2 | List and explain the barriers to entry that shield pure monopolies from competition. | LO 12.3 | Explain how demand is seen by a pure monopoly. | LO 12.4 | Explain how a pure monopoly sets its profit-maximizing output and price. | LO 12.5 | Discuss the economic effects of monopoly. | LO 12.6 | Describe why a monopolist might prefer to charge different prices in different markets. | LO 12.7 | Distinguish between the monopoly price, the socially optimal price, and the fair-return price of a government-regulated monopoly. |
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