Thursday, 29 August 2013 21:18

Range of Monopoly Outputs

Traditionally we assume that firms aim to profit maximise. For a perfectly competitive firm this will be true as they have no choice but monopolies are price makers and so could theoretically choose a point other than profit maximisation. 

Published in Business Economics
Thursday, 29 August 2013 20:40

Monopolies

Monopolies feature at AS but at A Level you need to be able to draw a costs and revenues diagram to show the effect on price, quantity and efficiency. This presentation will take you through calculating the costs and revenues through to the diagram and the impact on welfare.

Published in Business Economics
Thursday, 29 August 2013 19:07

Perfect Competition

At AS it was acceptable just to refer to a market structure as either competitive or a monopoly. In reality there is a spectrum from perfect competition, the most competitive, through oligopolies to monopolies, where there is no competition. This presentation will take you through perfect competition step by step, including how to draw the diagram.

Published in Business Economics