Monopoly: Market Power and Inefficiency
Students will analyze the characteristics of a monopoly, its pricing strategies, and the resulting market inefficiencies.
Key Questions
- Explain the barriers to entry that allow a monopoly to persist.
- Analyze how a monopolist determines its profit-maximizing price and quantity.
- Critique the welfare implications of a monopoly compared to perfect competition.
Ontario Curriculum Expectations
Suggested Methodologies
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