Chapter 15: Monopoly
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November 8
Take Out Your Pencils
Mankiw presents an exam question wherein a monopolist in a closed economy reacts to the opening of its market.
Textbook References:
Page 179 “The World Price and Comparative Advantage”
Pages 186-188 “Other Benefits of International Trade”
Pages 315-322 “How Monopolies Make Production and Pricing Decisions”
Pages 322-326 “The Welfare Cost of Monopolies”