Title

(5) The Case Against Monopoly I

Topic Category

Monopoly

Publication Date

2011

Keywords

Monopoly, Economic Profits, Allocative Inefficiency, Undesirable Properties

Abstract

This describes the case against Monopoly, the economic reasons for preferring Perfect Competition to Monopoly. The desirable features of Perfect Competition are reviewed and compared to the Monopoly outcome.

Run Time

12:01

Primary Discipline

Microeconomics

Skills Delivered

Ability to identify the desirable features of Perfect Competition and explain why these do not tend to occur in Monopoly. Ability to explain the economic argument against Monopoly as a market structure.

Rigor Level

2000

Prerequisites

Previous Monopoly and Perfect Competition Videos

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