Macro Economics
Read the following to prepare for this week:
Survey of Economics, Chapter 7: Monopoly and Price Discrimination
Video:
MIT OpenCourseWare video lecture series, “Monopoly”
9.3 Test your Knowledge (Question):
Watch the following video(s), which you can access in the Weekly Media object or by clicking on the link(s) below: and answer the question. :
Q1 What is monopoly? Why a monopolist is referred as price maker?
Using marginal principle, explain with help of graph, to maximize profit how price-output relationship is achieved by a monopolist.
9.4 Instructions
Answer the question in test your knowledge section.
Post your answer in the discussion board using the discussion link
Using marginal principle, explain with help of graph, to maximize profit how price-output relationship is achieved by a monopolist.
