Monopoly and Market Power
Students will examine the characteristics of monopolies, their pricing strategies, and the welfare implications of market power.
Key Questions
- Analyze how a monopoly's market power affects consumer welfare.
- Explain the sources of monopoly power.
- Critique government policies designed to regulate monopolies.
Ontario Curriculum Expectations
About This Topic
Power and efficiency bring the abstract concepts of energy into the realm of practical engineering and sustainability. Power is defined as the rate at which work is done, while efficiency measures how much of the input energy is converted into useful output. In the Ontario curriculum, these concepts are vital for evaluating the environmental impact and economic cost of energy use.
From comparing the efficiency of electric vehicles to incandescent light bulbs, students learn to make informed decisions as consumers and future innovators. This topic connects physics to the global challenge of climate change and the transition to a green economy. Students grasp this concept faster through collaborative problem-solving where they calculate the 'real world' costs of running household appliances and industrial motors.
Active Learning Ideas
Inquiry Circle: The Personal Power Rating
Students use the 'stair climb' data from the previous topic to calculate their own power output in Watts. They then compare their 'human power' to common household items, such as a 60W light bulb or a 1500W toaster, to gain a sense of scale for energy use.
Mock Trial: The Efficiency Audit
The class is divided into 'Energy Auditors' and 'Appliance Manufacturers.' Auditors must 'sue' manufacturers whose products (represented by data sheets) have low efficiency. Manufacturers must defend their designs by explaining where the 'lost' energy goes and the trade-offs involved.
Stations Rotation: Light Bulb Efficiency
Stations feature different bulbs (LED, CFL, Incandescent). Students measure the light output (using a lux meter) and the heat produced (using a thermometer). They use this data to rank the bulbs by efficiency and calculate the long-term cost savings for an Ontario home.
Watch Out for These Misconceptions
Common MisconceptionA more powerful machine is always more efficient.
What to Teach Instead
Power and efficiency are independent. A high-power racing car can be very inefficient, while a low-power LED bulb is highly efficient. Peer-led comparisons of different 'power vs. efficiency' charts help students decouple these two concepts.
Common MisconceptionEfficiency can be 100% if we just use better lubricants.
What to Teach Instead
The Second Law of Thermodynamics (introduced conceptually) implies that some energy is always lost to the environment as heat. Using a 'perpetual motion' video critique helps students identify why 100% efficiency is physically impossible in the real world.
Suggested Methodologies
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Frequently Asked Questions
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