2.2.1 Monopoly vs Perfect Competition

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Skills You'll Learn

Externality, Economics, Microeconomics, Market (Economics)

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DV

Oct 24, 2018

Love how the videos were brief, but informative. Very helpful class and exams weren't overly complicated. In the end, I felt as though I retained much of the knowledge.

LE

Oct 21, 2016

Another fine course from Professor Stein. I particularly appreciated the final set of lectures, but all were well presented, understandable, and relevant.

From the lesson
Monopoly
A monopoly is a case where there is only one firm in the market. We will define and model this case and explain why market power is good for the firm, bad for consumers. We will also show that society as a whole suffers from the lack of competition.

Taught By

  • Rebecca Stein

    Rebecca Stein

    Senior Lecturer

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