https://padlet.com/andrewtan1/crd8ir20mm7e Made with a wish on a star en-us 2017-07-21 01:54:12 UTC 2017-07-21 05:20:27 UTC hello@padlet.com andrewtan1 https://padlet.com/andrewtan1/crd8ir20mm7e/wish/179160056
Price discrimination ...
Under third degree price discrimination, thelower income consumer group belonging to the more price elastic demand market will be able to consume a good or service and gain consumer surplus which they could otherwise not afford.
Increased profits earned from

Economies of scale ....
Monopolies reap internal economies of scale that allow them to produce at lower cost and charge lower prices, thus giving rise to greater consumer surplus.( However, the incentive to pass on cost savings is questionable.)

Contestable markets...
If the market is contestable, meaning that there is the threat of competition, the monopolist might keep its prices competitive. They would also engage in product innovation to attract more consumers and retain their market share.

Others......

]]> 2017-07-21 01:54:12 UTC https://padlet.com/andrewtan1/crd8ir20mm7e/wish/179160056 andrewtan1 https://padlet.com/andrewtan1/crd8ir20mm7e/wish/179160057 Focus:
Effects of monopoly power on consumers

Flow:

]]> 2017-07-21 01:54:12 UTC https://padlet.com/andrewtan1/crd8ir20mm7e/wish/179160057 andrewtan1 https://padlet.com/andrewtan1/crd8ir20mm7e/wish/179160888 Ketong
Tao yuan
Yao jia
Kelsey]]> 2017-07-21 02:08:13 UTC https://padlet.com/andrewtan1/crd8ir20mm7e/wish/179160888