3.1 Market Structure

3.1 market Structures - Monopoly

At the end of this section the student should be able to:

describe and critique the main features of monopolistic product markets
demonstrate and analyse how a change in demand or supply in a market structure impacts on equilibrium graphically represent, describe and compare market equilibrium under monopoly long run
graphically represent and evaluate the point of profit maximisation for a firm in a monopoly market
examine the implications of changing levels of competition and market power on price and output under monopoly
explain why particular market concentrations are deemed problematic for consumers and are therefore regulated by Irish and European competition authorities