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Lecture Managerial economics (8e): Chapter 8 - Samuelson, Marks

Chapter 8 - Monopoly. The main contents of the chapter consist of the following: Pure monopoly, barriers to entry, perfect competition versus pure monopoly, natural monopolies, monopolistic competition. | Chapter Eight Monopoly Monopoly: the earnings of many in the hands of one. ~Eugene Debs For Discussion New York City’s Taxicabs Everyone has stories to tall, good and bad, about New York cabbies. Pure Monopoly Barriers to Entry Economies of Scale Capital Requirements Pure Quality and Cost Advantages Product Differentiation Figure 8.1 A Monopolist’s Optimal Price and Output Figure 8.2 Possible Industry Demand Curves Pure Monopoly (cont.) Barriers to Entry (cont.) Control of Resources Patents, Copyrights, and Other Legal Barriers Strategic Barriers Intel’s Monopoly 1.3 Perfect Competition versus Pure Monopoly Cartels Business Behavior—The OPEC Cartel Natural Monopolies 8 Figure 8.3 Perfect Competition versus Pure Monopoly Figure 8.4 A Natural Monopoly Figure 8.5 Monopolistic . | Chapter Eight Monopoly Monopoly: the earnings of many in the hands of one. ~Eugene Debs For Discussion New York City’s Taxicabs Everyone has stories to tall, good and bad, about New York cabbies. Pure Monopoly Barriers to Entry Economies of Scale Capital Requirements Pure Quality and Cost Advantages Product Differentiation Figure 8.1 A Monopolist’s Optimal Price and Output Figure 8.2 Possible Industry Demand Curves Pure Monopoly (cont.) Barriers to Entry (cont.) Control of Resources Patents, Copyrights, and Other Legal Barriers Strategic Barriers Intel’s Monopoly 1.3 Perfect Competition versus Pure Monopoly Cartels Business Behavior—The OPEC Cartel Natural Monopolies 8 Figure 8.3 Perfect Competition versus Pure Monopoly Figure 8.4 A Natural Monopoly Figure 8.5 Monopolistic . | Chapter Eight Monopoly Monopoly: the earnings of many in the hands of one. ~Eugene Debs For Discussion New York City’s Taxicabs Everyone has stories to tall, good and bad, about New York cabbies. Pure Monopoly Barriers to Entry Economies of Scale Capital Requirements Pure Quality and Cost Advantages Product Differentiation Figure 8.1 A Monopolist’s Optimal Price and Output Figure 8.2 Possible Industry Demand Curves Pure Monopoly (cont.) Barriers to Entry (cont.) Control of Resources Patents, Copyrights, and Other Legal Barriers Strategic Barriers Intel’s Monopoly 1.3 Perfect Competition versus Pure Monopoly Cartels Business Behavior—The OPEC Cartel Natural Monopolies 8 Figure 8.3 Perfect Competition versus Pure Monopoly Figure 8.4 A Natural Monopoly Figure 8.5 Monopolistic Competition | Chapter Eight Monopoly Monopoly: the earnings of many in the hands of one. ~Eugene Debs For Discussion New York City’s Taxicabs Everyone has stories to tall, good and bad, about New York cabbies. Pure Monopoly Barriers to Entry Economies of Scale Capital Requirements Pure Quality and Cost Advantages Product Differentiation Figure 8.1 A Monopolist’s Optimal Price and Output Figure 8.2 Possible Industry Demand Curves Pure Monopoly (cont.) Barriers to Entry (cont.) Control of Resources Patents, Copyrights, and Other Legal Barriers Strategic Barriers Intel’s Monopoly 1.3 Perfect Competition versus Pure Monopoly Cartels Business Behavior—The OPEC Cartel Natural Monopolies 8 Figure 8.3 Perfect Competition versus Pure Monopoly Figure 8.4 A Natural Monopoly Figure 8.5 Monopolistic Competition