Chapter and sections in Taylor to Read
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Pg #
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Comments/Assignment
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| 11 Monopoly |
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213 |
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Barriers to Entry |
214 |
Read – important. Pay particular attention to Exhibits 11-2, 11-5, 11-6, and most important is 11-7 |
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Legal Restrictions |
214 |
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| Control of a Physical Resource |
214 |
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| Technological Superiority |
215 |
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| Natural Monopoly |
216 |
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| Intimidating Potential Competition |
217 |
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| Summing Up Barriers to Entry |
218 |
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| How a Profit-Maximizing Monopoly Chooses Output and Price |
218 |
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Demand Curves Perceived by a Perfectly Competitive Firm and by a Monopoly |
218 |
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| Total and Marginal Revenue for a Monopolist |
220 |
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| Marginal Revenue and Marginal Cost for a Monopolist |
221 |
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| Illustrating Monopoly Profits |
223 |
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| The Inefficiency of Monopoly |
224 |
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| Conclusion |
225 |
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| Key Concepts and Summary |
226 |
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| Review Questions |
227 |
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