1. 15
Monopoly

2. Figure 1 Economies of Scale as a Cause of Monopoly

3. Figure 2a Demand Curves for Competitive and Monopoly Firms

4. Figure 2b Demand Curves for Competitive and Monopoly Firms

5. Table 1 A Monopoly’s Total, Average, and Marginal Revenue
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6. Figure 3 Demand and Marginal-Revenue Curves for a Monopoly

7. Figure 4 Profit Maximization for a Monopoly

8. Figure 5 The Monopolist’s Profit

9. Figure 6 The Market for Drugs

10. Figure 7 The Efficient Level of Output

11. Figure 8 The Inefficiency of Monopoly

12. Figure 9 Marginal-Cost Pricing for a Natural Monopoly

13. Figure 10a Welfare with and without Price Discrimination

14. Figure 10b Welfare with and without Price Discrimination

15. Table 2 Competition versus Monopoly: A Summary Comparison
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