Economics of Monopolies | Monopoly, Productive inefficiency, Allocative inefficiency, Competiton
Автор: Tharun Thiruseelan
Загружено: 2020-11-15
Просмотров: 118
Описание:
Want to about the economics of monopolies and/or the concept that inspired the monopoly game? About the different types of inefficiencies such as allocative inefficiency, productive inefficiency, X-inefficiency and the lack of competiton? Why there is a lack of competition? Why it relates to barriers to entry such as advertising and intellectual property rights? How it relates to averga cost, average revenue, marginal cost, marginal revenue and the monopoly diagram. Why monopolies have higher bargaining power? What are the consequences to a lack of cmpetition? What happens to prices? How it affects the economy and economics in general? How monopolies relate to research and development? What are the drwabacks f monopolies? What are the benefits of monoplies?
The opening video is by Jorge Franganillo from Pixabay. Check him out.
#monopoly
#economics
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