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.
Recommended Citation
Crane, Steven E., "(5) The Case Against Monopoly I" (2011). Principles of Microeconomics. Paper 49.
http://epublications.marquette.edu/microecon_learning/49
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