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Think back over the last eight weeks and pick a topic we discussed that you really weren't aware of before and now that you've studied it, you're glad you know about it and how it helps you understand the U.S./the world/ your community/ yourself better.
Write on Monopoly
Chapter 24
1. Identify situations that can give rise to monopoly.
2. Describe the demand and marginal revenue conditions a monopolist faces.
3. Discuss how a monopolist determines how much output to produce, what price to charge, and the amount of its profits.
4. Understand price discrimination.
5. Explain the social cost of monopolies.
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