Core-015 Monopoly
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About Core-015 Monopoly
About the Teacher
Jay Moulton
Jay Moulton is a business veteran. In short:
- Corporate finance and turnaround expert in U.S. and Canada
- CEO or operator of numerous companies in many industries
- 30 years of actually applying business economics principles
- Successfully led and invested in several leveraged buyouts
- Director or advisor to 30+ different companies
- Experience in both for-profit and not-for-profit sectors
- Producer of 700 professional videos and several TV shows
- Author of six economics and business strategy books
- Graduate of Harvard Business School MBA program
- Graduate of The Royal Military College of Canada
- Professional electrical engineer
- Governor of the Harvard Club of British Columbia
Monopoly
MODULE 1
Monopoly is one of the four market structures. This market structure is the least competitive for firms competing in the market. Monopoly market structures have high barriers to market entry.
Introduction
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According to the law of supply, an increase in price increases the quantity supplied – meaning that you move up and to the right on the curve.
In a monopoly, only one firm offers a product or service that has no substitute.
Although a local cable company may be the only firm delivering cable television in your area, it is not the only company providing television services to homes in your area.
Natural Monopoly
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The video explains the economic conditions that lead to a natural monopoly.
Sometimes monopolies exist because of government legislation or a patent. A natural monopoly is different.
The video explores natural monopolies using electric utilities and Google as examples.
A key feature of a natural monopoly is that the firm's average cost continues to decline as the firm produces larger quantities.
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