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Erschienen in:
2021 | OriginalPaper | Buchkapitel
1. Monopoly
verfasst von : Pak-Sing Choi, Eric Dunaway, Felix Munoz-Garcia
Erschienen in: Industrial Organization
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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.