SUMMARY

ABOUT
MONOPOL
Y
P R E S E N T E D A N D M A D E B Y:

N I E VA MA RI E ESTE NZO
MARIFE HUSAIN
 ONE
NO. OF FIRMS
VERY LARGE
AVERAGE SIZE OF FIRMS
 UNIQUE
NATURE OF PRODUCT
 HIGH
BARRIERS TO ENTRY
 YES
GOVERNMENT INTERVENTION
MOST OUTPUT
RESTRICTION
OUTPUT DECISION
 NO
COMPETITION
INTERDEPENDENCE
 HIGH
PROFIT MAKING POSSIBILITY
 P > MR
PRICE AND MARGINAL COST
 DOWNWARD
SLOPPING ; inelastic
IMPLICATION FOR DEMAND CURVE
MC = MR
PRICING DECISION