Monopoly
Need to KnowAt the end of this section the student should be able to:
1.Give examples of monopolistic markets in Ireland 2.Outline the assumptions underlying monopolies 3.Outline the barriers to entry that may exist in a monopoly market 4.Graph and describe the equilibrium of a monopoly 5.Outline the Advantages and 6.Disadvantages of Monopoly as a market structure 7.Outline the role of the Commission for Consumer Protection and Competition 8.Outline the difference between perfect competition and monopoly as market structures 9.Describe the three degrees of price discrimination 10.Outline the conditions necessary for price discrimination 11.Graph and describe the equilibrium of a monopoly that price discriminates into another market AND a perfectly competitive market |
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