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# McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Pure Monopoly 8.

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Presentation on theme: "# McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Pure Monopoly 8."— Presentation transcript:

1 # McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Pure Monopoly 8

2 8-2 Output and Price Determination LO2 246 8 10 12 1416 18 $200 150 100 50 0 Quantity Price D MR

3 8-3 $200 175 150 125 25 100 75 50 Price, Costs, and Revenue 12345678910 Quantity Output and Price Determination LO2 0 D MR ATC MC MR=MC A=$94 Economic Profit P m =$122

4 8-4 Monopoly and Antitrust Policy Antitrust laws Break up the firm Regulate it Government determines price and quantity Ignore it Let time and markets get rid of monopoly LO5

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