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September 19, 2021 

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PART-TIME WORKERS: People who are willing and able to work full-time (over 35 hours per week), but are forced to work less because employers don't need their productive efforts. While part-time workers officially have jobs, and are officially included in the "employed" category when the official unemployment rate is calculated, their labor resources are really only partially unemployed. A person working 20 hours a week, who is willing and able to work 40 hours a week, really should be considered as "half employed."

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Lesson Contents
Unit 1: Intro
  • Definition
  • Making A Monopoly
  • Real World Monopoly
  • Perfect Competition
  • Imperfect Competition
  • Unit 1 Summary
  • Unit 2: Revenue
  • Market Control
  • Monopoly Demand
  • Monopoly Revenue
  • The Numbers
  • Marginal Revenue
  • The Curves
  • Elasticity And The Curves
  • Unit 2 Summary
  • Unit 3: Output
  • Motivation
  • Total Numbers
  • Marginal Numbers
  • Total Curves
  • Profit Curve
  • Marginal Curves
  • Unit 3 Summary
  • Unit 4: Evaluation
  • Economic Profit
  • Loss Minimization
  • Efficiency
  • Short-Run Supply?
  • Unit 4 Summary
  • Unit 5: Regulation
  • Inefficiency
  • Antitrust Laws
  • Regulatory Pricing
  • Unit 5 Summary
  • Course Home
    Monopoly

    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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    INVESTMENT EXPENDITURES DETERMINANTS

    Ceteris paribus factors, other than aggregate income or production, that are held constant when the investment line is constructed and which cause the investment line to shift when they change. Some of the more important investment expenditures determinants are interest rates, expectations, wealth, capital prices, and technology.

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    APLS

    PINK FADFLY
    [What's This?]

    Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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    This isn't me! What am I?

    Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
    "When you play, play hard; when you work, don't play at all. "

    -- Theodore Roosevelt, 26th US president

    JIE
    Journal of Industrial Economics
    A PEDestrian's Guide
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