Y2 19) Monopoly - Pros, Cons and Evaluation (Essay Plan)

Y2 19) Monopoly - Pros and Cons (Essay Plan). The pros, cons and evaluation of a monopoly market
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[@instinctivehd652]

Isn’t the market structure which supermarkets are within called an oligopoly?

[@MC10W]

Camn you also dfidscsus for thenegatives of monopliesis that thry can redecuce supply anf raise prticesd- thus lesading to a deadswegith welfare loss- as consumers are exploited- and so consumer surplus shirnks.- not only because therei is less choice but also a less supply of a particular g/s. - AAnd so you can illusteate this using a D and S diaram whr Supply xurve shifts to the lefgt and prices rise whilst qwuantit supplied falls ?

[@usmanumer2333]

says that monopolies can benefit from economies of scale thus reducing prices more than perfect comp can. whereas isn’t it assumed that in the long run oerfect competition achievers economies of scale due to productive efficiently and competition.Please explain sir i’m confused

[@jakepeto2496]

You're correct that in the long run, perfect competition can achieve economies of scale due to productive efficiency and competition. However, it's important to note that monopolies can also benefit from economies of scale. When a monopoly operates at a large scale, it can spread its fixed costs over a greater quantity of output, resulting in lower average costs. This allows the monopoly to potentially reduce prices more than firms in perfect competition.

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[@cewes548]

Hi can anyone explain why on the diagram supporting the greater economies of scale for competitive economies that mc doesn't = mr, surely they are profit maximising?

[@Anonymous-lg6od]

MC does MR on the Pm (monopoly situation) where quantity supplied is taken from that point (Qm). To then find price (Pm) - the profit maximising price - from the demand/price curve. Hope that helps

[@jamiek8603]

@@Anonymous-lg6od that doesnt answer the question though, for a competitive market, the equilibrium for Pc Qc is not at MC = MR

[@jackwilcock1100]

Think it’s because competitive outcomes are allocatively efficient so they produce where mc=ar

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Can someone link the video where he explains the diagram

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Can you expalin the diagraams..

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[@hooha0949]

Does anyone have an example of a business cross-subsidising

[@eduardo-cf1iw]

Carrefour, dont know if they are so popular in the UK, but basically they are a big supermarket industry, and they cross subsidize in the sense that they have a specific type of cheap generic branded foods that they sell in their own supermarket, and arguably they can sustain to lose money in the rice they seel for really cheap because theyhave abnormal levels of profit to do so

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@@austinwachira5185 if you want a uk based one, costco is a good example

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