Monopoly (HL only)

IB Economics: Monopoly (HL only)

This lesson focuses on monopoly structures and specifically the way that a monopoly is able to take advantage of barriers to entry to establish their position as the only firm within the industry. It is also important for your classes to understand the characteristics of a natural monopoly and crucially how to use diagrams to illustrate the market for a monopoly in both the short run and the long run.What is a monopoly...

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