AP Economics – 11/13/19
I. Bellwork: on iLearn
II. Objectives:
Discuss monopoly inefficiencies
Construct, analyze, and interpret graphs for monopolies to determine the consumer surplus, producer surplus,and deadweight loss resulting from inefficiency
III. Discussion:
- Review Pages 628-629
- Homework
IV. Notebook:
A. Monopolies are inefficient because they…
- Charge a higher price
- Don’t produce enough
- Not allocatively efficiency
- Produce at higher costs
- Not productively efficiency
B. Figure 62.1 page 624
C. Dealing with Monopolies
- Public Ownership (Govt)
- Regulation
- Natural Monopoly and the need for Government Regulation
- Regulating Monopolies (Socially Optimal and Fair Return)- Micro Topic 6.4
V. Classwork:
Worksheet 4.2 in Module 62 Folder on iLearn
Page 628 Check Your Understanding #1-2
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