Monopoly from Peter Cramp’s revision guide

A sample chapter from Peter Cramp’s A-level Year 2 Revision Guide via your “my downloads” button.

Incredibly clear and precise, this chapter places monopoly within the spectrum of market structures by concentration, emphasizes that market failure is a necessary condition for government intervention and analyses and evaluates monopoly using structure-conduct-performance.  It also covers the growth of firms, price discriminating monopoly and monopsony.