Unit 7: Monopoly


What’s in This Chapter? A monopoly is an industry in which one seller dominates or controls the industry. There are different kinds of monopolies. Consider, for example, the U.S. Postal Service and the Internet search...

Read More

Section 2: The Monopolist’s Revenue Curves

Average and Marginal Revenue Average revenue is equal to the price of the product, if there is no price discrimination (price discrimination occurs when a firm charges different prices to different economic groups, such as...

Read More

Test Your Knowledge!

  Time limit: 0 Quiz-summary 0 of 10 questions completed Questions: 1 2 3 4 5 6 7 8 9 10 Information This is a ten question multiple-choice quiz covering the material in this Unit. I hope you do well! You have already...

Read More