Monopoly

Pak-Sing Choi, Eric Dunaway and Felix Munoz-Garcia
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Eric Dunaway: Wabash College

Chapter Chapter 1 in Industrial Organization, 2021, pp 1-50 from Springer

Abstract: Abstract This chapter explores monopoly models, where a single firm operates in an industry. We first study the output decisions of this type of firm in a simplified setting with linear demand and constant marginal costs. Exercise 1.2 then extends our analysis to a context where the monopolist faces a convex cost function (i.e., increasing marginal costs) which may occur when, intuitively, producing further units becomes increasingly expensive. Exercises 1.3 also examine more general environments where the firm faces a generic inverse demand function and a generic cost function, while Exercise 1.4 focuses on settings where the monopolist faces a convex, concave, or linear demand.

Date: 2021
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DOI: 10.1007/978-3-030-57284-6_1

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