Discussion:
(1) Can a monopolist charge any price they want to charge? Why? Or why not?
(2) How do the price charged and quantity produced in a monopoly compare to more competitive markets?
(3) Keep in mind that one of the things we don't like about monopoly is that this form of industrial organization does not achieve "productive efficiency." Specifically, what is meant by that?
(4) Is there anything about the firm you have chosen to discuss for this topic (I haven't picked one so that you can choose) to which this concept of productive efficiency can be tied?
(5) Another one of the things we don't like about monopoly is that this form of industrial organization does not achieve "allocative efficiency." Specifically, what is meant by allocative efficiency?
(6) Is there anything about the firm you have chosen to discuss for this topic to which this concept of allocative efficiency can be tied?