Problem
Think back over the last eight weeks and pick a topic we discussed that you really weren't aware of before and now that you've studied it, you're glad you know about it and how it helps you understand the U.S./the world/ your community/ yourself better.
Write on Monopoly
a) Identify situations that can give rise to monopoly.
b) Describe the demand and marginal revenue conditions a monopolist faces.
c) Discuss how a monopolist determines how much output to produce, what price to charge, and the amount of its profits.
d) Understand price discrimination.
e) Explain the social cost of monopolies.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.