How to solve monopoly problem

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Reference no: EM132063405

Questions -

Question 1:

a. How important is the existence of a significant barriers to entry to maintaining monopoly?

b. What would be the result if a monopoly market could easily be entered?

c. Why might a monopoly in a high-tech field such as computers , the Internet, and consumer electronics be rather short-lived?

Question 2: How to solve monopoly problem.

Question 3:

a. How do monopolistically competitive markets differ from perfectly competitive markets?

b. If monopolistically competitive firms are making economic profits in the short-run, what happens in the long-run?

Question 4: "Monopolistic competition has a little monopoly and a little competition, hence its name." Do you agree ? Why or why not?

Textbook - Microeconomics 4th edition by Eric Chiang.

Chapter 9 - Monopoly.

Chapter 10 - Monopolistic Competition, Oligopoly & Game Theory.

Reference no: EM132063405

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