Lecture 15: Monopoly II

author: Jonathan Gruber, Department of Economics, Massachusetts Institute of Technology, MIT
recorded by: Massachusetts Institute of Technology, MIT
published: Dec. 3, 2012,   recorded: December 2011,   views: 2283
released under terms of: Creative Commons Attribution Non-Commercial Share Alike (CC-BY-NC-SA)
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The analytical picture of monopolies presented in our last lecture may be too simple. Monopolies may not always charge the same price to every customer – they can choose to charge different prices, a phenomenon known as price discrimination. Monopolies are regulated by governments to limit their market power, yet in some cases governments may encourage the operation of monopolies. These cases are discussed in greater detail in this lecture.

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