Reference no: EM131792251
Monopoly. Microeconomy
Complete the following:
Based upon this week's readings, analyze an article published within 60 days prior to the term that deals with a monopoly-closed, open, or natural.
Analyze the factors driving change in the industry. Are there potential changes due to globalization or technology that might alter this firm's position as a monopolist? What are they? Why would they alter the firm's position as a monopolist?
Requirements:
Your paper should be at least 3 pages in length and must conform to the APA format. Include a supply-demand graph relevant to a monopoly. Please note, that you need to create the graph and not copy it from any source. Any copied and pasted graphs will not earn any points.
Incorporate at least 4 scholarly references that are not required readings for this module.
Required
Chapters 9 & 10 in Introduction to Microeconomics
Chapters 16 & 19 in The Economics of Public Issues
Learning Outcomes
Explain pure competition and the competitive firm.
Determine profit maximization in the short run and the importance of entry and exit for long-run equilibrium.
Summarize the three types of monopolies and analyze how each can determine price in the short and long run.
Compare monopoly to competition.
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