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Monopoly&Pricing (Price descrimination (Dead weigh loss (Loss of…
Monopoly&Pricing
Price descrimination
Monopoly graph
Price is set above marginal cost
Dead weigh loss
Loss of economic efficiency
excess burden
Profit Maximization
Less quantity more profit
State Monopoly
Constitution
some sectors at state level needs monopoly
Competition
Monopoly can be decreased by creating competition
large number of products different by brand or quality
Market competition
Oligopoly
few number of sellers
homogeneous product
monopoly power exist in oligopoly
firms are interdependent
Price rigidity
Duopoly
two sellers exist for particular product
imperfect market
Single Supplier and many buyers
Single buyer and many suppliers
Linked with resources and objectives of the states
Lecture # 7 : Monopoly, Oligopoly & Pricing
Sajjad Ahmed 1739113