Monopoly, Special Cases of Monopoly, Profit maximization problem

Learning Objectives

• Monopoly: Meaning and Reasons
• Why the AR and MR curve of monopolist slopes downward
• Profit Maximization Problem
• Special cases of monopoly
• Welfare, and Output in Monopoly
• Quality Choice

Suggested Readings:

Ahuja. H.L. (1970). Advanced Economic Analysis: Microeconomic Analysis. New Delhi: S. Chand & Company Pvt. Ltd.
Kutosoyiannis, A. (1979). Modern Microeconomics. Houndsmill: Macmillan Press Ltd.
Varian. H.R. (2010). Intermediate Microeconomics - A Modern Approach. W W Norton & Company: New York.