While this lesson on monopoly is not necessarily a "how to" guide for the monopolization of a market, it does provide insight into the nature and function of the monopoly market structure. We get a little insight into how a monopoly is created, and a lot of insight into what a monopoly does once it does have control of the market. Throughout this lesson, I'll me making snide comments about how inefficient monopoly is compared to more competitive markets.

• The first unit of this lesson, One Firm, begins this lesson with a look at the nature of monopoly and how it is related to other market structures.
• In the second unit, Revenue, we examine the revenue side of a market dominated by monopoly -- including total revenue, average revenue, and marginal revenue.
• The third unit, Output, then looks at the profit-maximizing output production decision by a monopoly using assorted graphs and tables.
• In the fourth unit, Evaluation, we analyze the profit-maximizing decision of monopoly in terms of profit, loss, efficiency, and short-run supply.
• The fifth and final unit, Regulation, then closes this lesson by considering the role government plays in regulating monopoly.

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