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GA5s08 - Make sure that you are ready to present enough...

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University of Wisconsin Department of Economics Economics 311: Intermediate Microeconomic Theory-Adv. Treatment Korinna K. Hansen Group Assignment 5 Due Date : Reading Assignment: Varian, Chapter 24 Problem Assignment : Here are some critical questions for our class discussions regarding Monopoly. For each one of the following questions you should be able to communicate to an audience all important relevant information in a well-organized and concise way.
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Unformatted text preview: Make sure that you are ready to present enough detail. 1). Graph and explain the deadweight loss as we move from a competitive market structure to a monopoly. 2). What is the reasoning behind the existence of patents? What are the benefits and costs of patents? How long should patents be? 3). Graph and explain the natural monopoly. What are the similarities and differences from the basic monopoly model? 4). Graph and explain what might cause a monopoly....
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