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III. UNIT III

III. UNIT III. A. PRICE AND OUTPUT--MONOPOLY. 1. Recognition of monopoly. 2. Revenue profile of pure monopoly. 3. Short run. a. Equilibrium. b. Implications--allocative. inefficiency. 4. Long run implications:Technical. or productive efficiency. 5. Regulated monopoly. COST/.

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III. UNIT III

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  1. III. UNIT III A. PRICE AND OUTPUT--MONOPOLY 1. Recognition of monopoly 2. Revenue profile of pure monopoly 3. Short run a. Equilibrium b. Implications--allocative inefficiency 4. Long run implications:Technical or productive efficiency 5. Regulated monopoly

  2. COST/ REV. LRAC LRMC D MR OUTPUT

  3. COST/ REV. LRAC PRICE LRMC (WITH NO REG.) D MR OUTPUT OUTPUT (WITH NO REG.)

  4. COST/ REV. LRAC LRMC D MR OUTPUT

  5. COST/ REV. LRAC LRMC FAIR RETURN PRICE D MR FAIR OUTPUT RETURN OUTPUT

  6. COST/ REV. LRAC LRMC D MR OUTPUT

  7. COST/ REV. LRAC LRMC SOC. OPT. D MR PRIC OUTPUT E SOC. OUTPUT OPT.

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