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Lecture 9 (Monopoly (Definition (Any think in market sell by one person,…
Lecture 9
Monopoly
State have monopoly in many things
Example
State make constitution
Definition
Any think in market sell by one person
Only single person have 100% market share
Monopoly in Pakistan
Example K-electric
Monopoly and ideal market
If monopoly imperfect market
No monopoly near to perfect market
Supplier side monopoly
Supplier vary the
Price
Demand
Supply
Example
Early time of Pakistan Steel mill
Monopoly & imperfect market
Monopoly and regulator
In monopoly market regulator have less control
Monopoly & pricing
Price discrimination
Concept with example
Price discrimination and monopoly
In monopoly there is price discrimination
Monopoly and marginal revenue in graph
If not straight line
change the demand
price is low
how to increase the profit
Increase the price
Increase the quantity
Super normal profit
Death weight
Non monopoly
Concept
Market share hold by different person / organization
Example of Pakistan
PIA is in non monopolistic b/c of other airline
Monopoly from buyer side
Example
4 taxi and one passenger at taxi stand
Monopoly Requirement
Depended on different sectors
No monopoly in basic needs
Example
Water board
Criteria for selecting monopoly
Select monoply a/c to the people of state
Example
Air fare and people of pakistan
Made by: Azaz Ahmed (1839124)