1. Chapter 24

2. The coincidence of the inverse demand curve D and the average revenue curve AR.

4. With MR = d R / d y = p (y ) [ 1 + 1 /ε(y) ], p ( y ) = MC ( y ) / [1 – 1 / |ε( y ) | ].

5. Two equivalent ways to determine the equilibrium: MC = MR, or AR = MC / ( 1 – |ε| ). Figs. FOC: MC = MR. SOC: MC ’ ≥ MR ’.

6. The impact of taxes on a monopoly. p425 Inefficiency of monopoly. Fig. p426 Deadweight loss of monopoly. Fig,

7. Inefficiency of monopoly Mc MR Demand, AR Price pmpm pcpc ymym ycyc output Deadweight lost

8. Deadweight loss of monopoly A B C PRICE Monopoly Price P* Competitive price MC Demand, AR MR Y* output 垄断收益

9. Natural monopoly. Figs. p417 What causes monopolies: by nature or by permission. The minimum efficient scale factor. Regulation of monopoly: AC = AR.

11. Chapter 25

12. Price discriminations of first-degree (perfect), of second-degree (bulk discounts), and Price discrimination of third-degree (market segmentation): Figs.

13. MC(y 1 +y 2 ) = MR 1 (y 1 ) = MR 2 (y 2 ) gives p 1 [ 1 – 1 / |ε 1 ( y 1 )| ] = p 2 [ 1 – 1 / |ε 2 ( y 2 )| ].