Problem
1. Are all monopolies large fi rms? Make up an example of a monopoly that is a small firm.
2. How does the demand curve faced by the monopolist differ from that confronting the perfect competitor? Why do they differ?
3. What are the main barriers to entry? Explain how each barrier can foster monopoly.
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.