PPT on Monopoly
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The document discusses different types of markets and monopoly. It defines monopoly as a market with a single seller and no close substitutes for the product. The document presents three cases of monopoly and provides graphs of monopoly revenue and marginal revenue curves. It concludes with a references section.
PPT on Monopoly
- 1. UNIVERSITY of PETROLEUM and ENERGY STUDIES Monopoly Sameer Sharma
- 2. Index • INTRODUCTION • TYPES OF MARKET • MONOPOLY CASE 1 • MONOPOLY CASE 2 • MONOPOLY CASE 3 • REFERENCES
- 3. Introduction Market forms Market refers to a place or locality where commodities can be bought and sold. In economies market does not necessarily mean or refer to a particular place but to the mechanism by which buyers and sellers of a commodity are able to contact each other for having economic exchange
- 4. Types of Market MARKET Imperfect Perfect competition competition Monopolistic Oligopoly Monopoly
- 5. Monopoly • Derived from two Greek words: ‘Monos’ meaning single ‘Poles’ meaning seller • Monopoly means existence of a single producer or seller who produces or sells a product which has no close substitutes
- 6. Monopoly • Features of monopoly: Single seller many buyers No close substitutes Closed entry Price Maker Price discrimination
- 7. Monopoly Revenue curve 9 8 7 6 5 Average revenue 4 Marginal revenue 3 2 1 0 Units
- 10. Monopoly Case 3:
- 13. References
- 14. THANK YOU