Copyright©2004 South-Western 15 Monopoly. Copyright © 2004 South-Western What’s Important in Chapter 15 Sources of Monopolies (= Price Makers = Market.
Copyright©2004 South-Western 15 Monopoly. Copyright © 2004 South-Western While a competitive firm is a price taker, a monopoly firm is a price maker.
DEMAND AND SUPPLY MARKETS ARE MADE OF BUYERS (DEMANDERS) AND SELLERS (SUPPLIERS)
Copyright © 2004 South-Western WHAT IS A COMPETITIVE MARKET? A perfectly competitive market has the following characteristics: There are many buyers and.
Chapter 9 Monopoly and Monopsony. Key Concepts monopoly price maker Barriers to entry deadweight loss natural monopoly patent monopsony.
