[2017年整理]微观经济学双语课讲义第14-16章.docVIP

Chapter 14 Monopoly (3 credit hours) Learning objectives: (1) Explain how monopoly arises and distinguish between single-price monopoly and price-discriminating monopoly; (2) Explain how a single-price monopoly determines its output and price; (3) Compare the performance of a single-price monopoly with that of perfect competition; (4) Explain how price discrimination increases profit. 14.1 Monopoly and how it arises A monopoly is a market with a single supplier of a good or service that has no close substitutes. How monopoly arises Monopoly arises when there are: (1) No close substi