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  • Anforme Monopoly

Anforme Monopoly

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Peter Shelley, Head of Economics and Politics, Royal Grammar School, Newcastle upon Tyne, discusses the market structure where there is just one supplier.

Summary of Key Points:

  • ·         Introduction – ‘The Invisible Hand’

 

  • ·         How Markets and Prices allocate resources

 

  • ·         Monopoly and the Allocation of Resources

 

  • ·         A Formal Model of Monopoly

 

  • ·         The Impact of Monopoly on Economic Efficiency – static efficiency

 

  • ·         Sources of Monopoly Power

 

  • ·         Possible Benefits of Monopoly

 

  • ·         Dynamic Efficiency

 

  • ·         Questions for discussion and summary of key points

 

Peter Shelley, Head of Economics and Politics, Royal Grammar School, Newcastle upon Tyne, discusses the market structure where there is just one supplier.

Summary of Key Points:

  • ·         Introduction – ‘The Invisible Hand’

 

  • ·         How Markets and Prices allocate resources

 

  • ·         Monopoly and the Allocation of Resources

 

  • ·         A Formal Model of Monopoly

 

  • ·         The Impact of Monopoly on Economic Efficiency – static efficiency

 

  • ·         Sources of Monopoly Power

 

  • ·         Possible Benefits of Monopoly

 

  • ·         Dynamic Efficiency

 

  • ·         Questions for discussion and summary of key points

 

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