is monopoly bad?
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Uploader Comments (pajholden)
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I am sorry maybe you alredy made a video on this but how are monopolies created?
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Why couldn't you have written the textbook you make things so easy to understand!
1 month ago 2
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14 people thought this was about the board game
1 month ago 6
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Really nice explanation. I tried a similar video in a more visual way. Watch it if you want. Thumbs up.
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Great
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@pajholden Indeed I am also wondering about the same thing aryaldo mentioned myself. It seems to me should a firm in a say an industry gain a monopoly position, it could sacrifice a large short run super-normal profit in order to deter competitors (possibly through excess capacity maintenance). I also wonder whether this deterrence is easier in capital intensive industries (given it would take a while for a rival firm/individual to gather the sufficient capital to be willing to enter).
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Hi Phil i really lyk your video, pls how can we reduce the production cost in the short run and the long run?
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beautifully explained!!!!
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Now I know why Greece is the way it is.
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thanx mate very helpful
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This was exactly a question in my final micro exam. I owe you for that one, Phil!
xlehnhoff 3 years ago 17
a big beer please!
pajholden 3 years ago 59
what about incentive for discovery?
research and discovery? if we did not have them we would not have the rate of invention and discovery w/o patents and trademarks?
jaywon06 3 years ago 2
of course. There is more dynamic efficiency (best chance for progress over time) under monopoly since they have the best incentive and financial resources to fund research.
pajholden 3 years ago 3