Pure Monopoly
CHAPTER 9
PURE MONOPOLY
CHAPTER OVERVIEW
This chapter is divided into six basic sections: the characteristics of pure monopoly; the barriers to entry
that create and protect monopolies; price and output determination under monopoly; the econ
MKT701
9.26.15
Cover Page
SWOT Analysis Template (Part One 70 pts possible)
INTERNAL ENVIRONMENT
Current Marketing Objectives, Strategy and Performance
Since NASCARs birth in 1948, it has built and withheld strong brand awareness, loyalty, and
equity. Tod
Micro 16 flashcards  Quizlet
Page 1 of 18
Like this study set? Create a free account to save it.
Create a free account
(1) In a market system scarce goods
are allocated through the operation of
what must be sacrificed in using a
resource for its next be
Statistics for Business and Economics
Chapter 7 Notes: Part 3 of 4
Page 1 of 7
Section 7.3: Observed Significance Levels: pValues
Learning Objectives
1. Test a specific value of a population parameter (specifically, the mean), called a test of
hypothesis
Statistics for Business and Economics
Chapter 8 Notes: Part 4 of 8
Page 1 of 20
Chapter 8: Inferences Based on Two Samples: Test of Hypotheses for Two Variances
Content
1. Section 8.1: Identifying the Target Parameter
2. Section 8.6: Comparing Two Populat
Statistics for Business and Economics
Chapter 8 Notes: Part 1 of 8
Page 1 of 8
Chapter 8: Section 8.2
How would you try to answer these questions?
Who gets higher grades: males or females? Is M>F or is M<F?
Which stock price is higher: Microsoft or Apple?
Page 1 of 7
Statistics for Business and Economics
Chapter 6 Notes: Part 1 of 3
Review exercise 5.70 (page 292293), completed as part of Chapter 5s Questions (NOTE: if you have not
completed problem 5.70, you should complete at least parts ac before cont
Statistics for Business and Economics
Chapter 6 Notes: Part 3 of 3
Page 1 of 6
Chapter 6, Section 6.3: Inferences Based on a Single SampleEstimation with Confidence Intervals
Confidence Interval for a Population Mean: Students tStatistic
Learning Object
Questions for Chapter 7 (Sections 7.17.5)
Complete these questions while reading through the PowerPoint notes posted on Moodle. Even if you
cannot fully work through a problem you should at least attempt to write down the formula or draw a
graph, when ap
MS Excels zTest: TwoSample
for Means (Hypothesis Test)
Chapter 8 notes: part 3 of 8
(Be careful if you print these slides rather than
viewing them on the computer! Several of the screen
shots will not be readable if you print multiple slides
per page. I
Page 1 of 3
Statistics for Business and Economics
Chapter 8 Notes: Part 5 of 8
Approximating Fcritical Values
The Fprobability distribution table provided in the textbook has very limited critical values when the
numerator degrees of freedom are larger
Statistics for Business and Economics
Chapter 9 Notes: Part 1 of 2
Page 1 of 18
Chapter 8 introduced the methodology that can be used for testing a hypothesis about the relationship between two
population means. Consider the scenario described at the begi
Questions for Chapter 6 (Sections 6.16.3)
Complete these questions while reading through the notes posted on Moodle. Even if you cannot fully
work through a problem you should at least attempt to draw a graph (if relevant) or identify the
appropriate for
Do you have the Data Analysis ToolPak?
The following instructions for locating the ToolPak are for
MS Excel 2007 and 2010
The Data Analysis ToolPak has several tools you will need to
complete your Excel homework assignments and take
home portion of the
Test: Micro 16  Quizlet
Page 1 of 6
NAME
5 Written questions
1.
individual wants are diverse
INCORRECT: You said sssddd
F
0%
ANSWER: There is a wide variety of desired goods and services in a market system because
2.
 Substitutability
 Proportion of i
Economics is the study of how people, institutions, and
society make economic choices under conditions of scarcity
Chapter 1: Limits, Alternatives, and Choices
I.
The Economic Perspective A viewpoint that envisions
individuals and institutions making rati
Sushilicious: Standing Out In A
Crowded Field
MKT701
I.
Executive Summary
Sushilicious is a contemporary Japanese cuisine restaurant located in Irvine, California.
Sushilicious has been in business for exactly one year, and since then it has established i
Chapter 1: Limits, Alternatives, and Choices
I.
The Economic Perspective
A.
Scarcity and Choice
1.
What do economists mean when they say theres no such thing as
a free lunch? Because everything is owned by someone, the lunch may
not require the use of one
P(z>1.53)=
a.
C.
D.
P(x>17.5)=
A.
Probability age between 50 and 61 years old
a.
b.
C
c.
d.
D.

a.P(zlessthanorequalsz0z0)equals=0.65776577
B
c.
d.
Supposexisanormallydistributedrandomvariablewith
muequals=4848
and
sigmaequals=44.
Findavalue
x0x0
ofthera
Data Analysis Toolpak:
Descriptive Statistics
For MS Excel 2007/2010
1. Open the data file you want to analyze
and review its contents
In the following example, the data is available in the
Papermills file posted under the Document Sharing
area of Course
Questions for Chapter 9 (Sections 9.19.2)
Complete these questions while reading through the notes posted on Moodle. Even if you cannot fully
work through a problem you should at least attempt to write down the formula or draw a graph, when
appropriate.
Chapter 8: Pure Monopoly
I.
An Introduction to Pure Monopoly: what are the characteristics?
Single seller, no close substitutes, price maker, blocked entry.
A.
Examples of Monopoly utility companies, cable companies,
telephone companies.
B.
Dual Objective
Chapter 4: Elasticity of Demand and Supply
I.
Price Elasticity of Demand: what does it measure?
A.
The PriceElasticity Coefficient and Formula: there are two
formulas
1.
One uses the original price and quantity of the good as the basis for
determine the
Chapter 7: Pure Competition
I.
Four Market Models: what are the differences in each of the
following:
A.
Pure (Perfect) Competition a large number of firms producing
a standardized product (like cotton), firms enter and exit easily
B.
Monopolistic (Imperf
Page 1 of 14
Statistics for Business and Economics
Chapter 7 Notes: Part 1 of 4
Chapter 7: Inferences Based on a Single Sample: Tests of Hypotheses
The following sections cover the critical value/test statistic approach to hypothesis testing of the
popula
Hypothesis Testing of the Difference Between
Two Population Means
This file is part of a program based on the Bio 4835 Biostatistics class taught at Kean University in Union, New
Jersey. The course uses the following text:
Daniel, W. W. 1999. Biostatistic
P Values (Calculated Probability) and Hypothesis Testing  StatsDirect
1 of 2
http:/www.statsdirect.com/help/basics/p_values.htm
Open topic with navigation
P Values
The P value, or calculated probability, is the probability of finding the observed, or mor
Statistics for Business and Economics
Chapter 7 Notes: Part 2 of 4
Page 1 of 6
Section 7.4: Tests of Hypotheses about a Population Mean: Normal (z) Statistic
These notes provide first, a detailed example of the hypothesis test covered in Examples 7.3 (p.
Statistics for Business and Economics
Chapter 8 Notes: Part 6 of 8
Page 1 of 10
Using MS Excels Data Analysis Toolpak Tool Ftest: Two Sample for Variances
In this part of the chapter, we will also use MS Excel to determine the critical value and test sta