MONOPOLI

Tedy Herlambang

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# MONOPOLI

## Mikroekonomi: Materi Minggu ke 11

### Tedy Herlambang .small[ ]

[ bangtedy.github.io](https://bangtedy.github.io)

[ @t_hlb](https://twitter.com/t_hlb)

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# LEARNING OUTCOMES

After studying this chapter, you will be able to

- List three barriers to entry and explain how each can help create market power
- Distinguish marginal revenue and average revenue for a monopolist, and explain why 
marginal revenue is less than average revenue
- Determine the profit-maximizing or loss-minimizing production level for a monopolist
- Summarize what causes the deadweight loss of monopoly
- Outline the factors that could cause the deadweight loss of monopoly to be lower or higher than expected
- Explain why a firm with market power might decide to charge different groups different prices
 
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# AN INTRODUCTION TO MONOPOLY

- A monopoly is the sole supplier of a product with no close substitutes. 
- There is only one supplier in the market but there are many demanders, so 
many that no buyer has any control over the price.

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# Why do some markets come to be dominated by a single supplier?

> A monopolized market is characterized by barriers to entry, which are restrictions on the entry of new firms into an industry.

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# BARRIERS TO ENTRY

- Legal Restrictions
  - Patents and Invention Incentives
  - Licenses and Other Entry Restrictions
- Economies of Scale
- Control of Essential Resources
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.font70[A single study is never the end of the story; multiple studies are 
needed before we can reach defensible conclusions about social phenomena.]

**Special thanks to**

Mahasiswa Agribisnis Angkatan '21
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