Sources of market power -Entry to the market is blocked.

-Entry could be patent or trademark protected

-Entry could be government protected

-Entry could be protected by economies of scale

Profit maximization

Monopoly-Profit Maximizing

Loss Minimizing

Monopoly-Loss Minimizing

Technical Aspects of Monopoly

Inefficiency of monopoly

Consumer and Producer Surplus

Dead weight loss


Monopoly Analysis

Price discrimination

Natural monopoly

Additional Sources:

Khan Academy