Jacob Clifford
Monopoly Demand and MR
Why is marginal revenue less than the demand curve for all perfectly competitive firms in a monopoly? Watch as a savvy economics instructor answers this question using graphs and detailed explanations.
Jacob Clifford
Ultimate Monopoly Review
From price and quantity to socially optimal prices and maximizing total revenue, see the needs for a monopoly charted on a graph.
Jacob Clifford
Lump Sum and Per Unit
What is the difference between a lump sum and per unit subsidy? Here, an economics instructor explains how these each affect cost curves, and more specifically marginal cost, by illustrating the concept on a whiteboard.
Jacob Clifford
Four Market Structures Simulation
Here is a fantastic resource in which you will watch as an instructor models a simulation conducted in an economics class on the four market structures (perfect competition, monopolistic competition, oligopoly, monopoly).
Khan Academy
Khan Academy: Monopolies: Review of Revenue and Cost Graphs for a Monopoly
Reviews monopolies and explains graphical representations of monopolies.
Khan Academy
Khan Academy: Monopoly: Showing That Mr Has Twice Slope of Demand
Using some basic calculus to show that marginal revenue has twice the slope of the demand curve for a monopolist. [4:56]
Khan Academy
Khan Academy: Monopolies: Monopolist Optimizing Price (Pt 3) Dead Weight Loss
Showing that what is optimal for the monopolist is not optimal for society.
Khan Academy
Khan Academy: Monopolies: Monopolist Optimizing Price (Part 2) Marginal Revenue
Plotting the marginal revenue curve for a monopolist. [8:31]
Khan Academy
Khan Academy: Monopolies: Monopolist Optimizing Price (Part 1) Total Revenue
Discusses how a monopolist would rationally optimize profits.
Khan Academy
Khan Academy: Monopolies: Monopoly Basics
A discussion of what would happen if there were only one airline, creating a situation that would be the opposite of perfect competition.
Khan Academy
Khan Academy: Review of Revenue and Cost Graphs for a Monopoly
In this video [10:21], we review the key features, behavior, and consequences of a monopoly.