ECON 111 Chapter Notes - Chapter 10: Bachelor Of Applied Science, Pearson Education, Price Discrimination

• School: Queen's University
• Department: Economics
• Course: ECON 111
• Professor: Xiaoran (Sheldon) Guo

Document Summary

Ragan, microeconomics, 15th canadian edition, toronto: pearson canada inc. , The material in this document is taken from the mentioned source and should be used for reference only. The document compiler cannot assure 100% accuracy as there may be errors present in this document. The mentioned source should be used if there is any doubt on information accuracy. In addition, without permission from the owners (direct or indirect), the material in this document cannot be reproduced. No supply curve for a monopolist 3. The very long run and creative destruction 5. Price discrimination among units of output 8. 10. 1: a single-price monopolist: monopoly: a market containing a single firm, monopolist: a firm that is the only seller in a market. Revenue concepts for a monopolist: since the short-run cost curves rely on conditions of production and not the market structure, no new cost concept needs to be introduced, monopolist is a sole producer of the product it sells.