Principles of Microeconomics - Chapter 15 - Monopoly

Characteristics of Monopoly 1:33 - A monopoly is a price maker 2:57 Sources of barriers to entry 4:22 The monopoly faces the market demand curve 12:53 The revenue of a monopoly 15:01 - Marginal revenue 19:56 - Marginal revenue is less than price for a monopoly 22:20 - The MR curve has the same intercept and twice the slope as the demand curve 23:46 Profit maximization for a monopoly: produce the quantity where MR = MC 28:27 - The monopoly uses the market demand curve to determine the price it will charge 31:32 The monopoly uses its market power to drive price above marginal cost 32:35 How to show the profit earned by the monopoly 35:00 The monopoly has no supply curve 38:26 The effect of monopoly on consumer surplus and producer surplus 42:36 - The deadweight loss of monopoly 49:41 Government policy toward monopolies 50:48 Price discrimination 1:02:55 - The firm must be able to prevent arbitrage 1:09:34 - Examples of price discrimination 1:11:40 - Perfect price discrimination 1:13:05 - Deadweight loss is zero 1:17:22