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Monopoly and the public interest AR = D £ Q MC monopoly MR

Monopoly and the public interest AR = D £ Q MC monopoly MR

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Page 1: Monopoly and the public interest AR = D £ Q MC monopoly MR

Monopoly and the public interest

AR = D

£

Q

MCmonopoly

MR

Page 2: Monopoly and the public interest AR = D £ Q MC monopoly MR

AR = D

£

Q

MCmonopoly

MRQ1

P1

ACmonopoly

AC1

Monopoly and the public interest

Page 3: Monopoly and the public interest AR = D £ Q MC monopoly MR

AR = D

£

Q

MCmonopoly

MRQ1

P1

ACmonopoly

AC1

Monopoly and the public interest

Page 4: Monopoly and the public interest AR = D £ Q MC monopoly MR

AR = D

£

Q

MCmonopoly

MRQ1

P1

ACmonopoly

AC1

Why do we think Monopoly is bad?

Page 5: Monopoly and the public interest AR = D £ Q MC monopoly MR

AR = D

£

Q

MCmonopoly

MRQ1

P1

ACmonopoly

AC1

PPC

QPC

If we had perfect competition then P=MC,If we had perfect competition then P=MC,

andand quantity is higherquantity is higherprice is lowerprice is lower

Page 6: Monopoly and the public interest AR = D £ Q MC monopoly MR

AR = D

£

Q

MCmonopoly

MRQM

PM

ACM

MCperfect competition

PPC

QPC

But what if Perfect competitive firm is small and unable to exploit returns to scale

ACmonopoly

Page 7: Monopoly and the public interest AR = D £ Q MC monopoly MR

AR = D

£

Q

MCmonopoly

MRQM

PM

ACM

MCperfect competition

PPC

QPC

But what if Perfect competitive firm is small and unable to exploit returns to scale

ACmonopoly

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