文档介绍：:asinglesellerofawell-,governmentlicense,:radioandtelevisionstationNaturalbarrierstoentrycreatenaturalmonopoly,whichisanindustryinwhichonefirmcansupplytheentiremarketatalowerpricethantwoormorefirmscan.(Economiesofscale)Example:electricutility2CharacteristicsNumbersofsellers:onesellerAvailabilityofsubstitutes:noDegreeofelasticity:generallyinelasticPricingpolicy:price-makerBarrierstoentry/exit:highEconomicprofits:yesP>MC,P>MR3FirmandmarketPQATCMCQ*P*MR=MCFindthepointonDDecideP*andQ*ProfitDMR4Dead-weightlossPQACandMCQmPmDWL::before80PriceQuantityDemandATC70100Profit=$$200090110190$1200Profit=$3200PriceDiscrimination:afterConditions:Consumershavedifferentpriceelasticity;Higherpriceforlowerelasticityconsumers;Nochancefortheresaleoftheproduct7PriceDiscriminationForpricediscriminationtoworkthesellermust:Downwardslopingdemandcurve(pricesearcher)AtleasttwoidentifiablegroupsofcustomerswithdifferentpriceelasticitiesofdemandfortheproductPreventthecustomerspayingthelowerpricefromresellingtheproducttothecustomerspayingthehigherprice(noarbitrage)Pricediscriminationreducesthisinefficiencybyincreasingoutputtowardthequantitywheremarginalbenefitequalsmarginalcost,:Ifitwerepossibleforthemonopolisttochargeeachconsumerthemaximumtheyarewillingtopayforeachunit,wherewouldbenodeadweightloss,