An entity, such as a firm, with a monopoly that gives it the power to influence the price it charges as the good it produces does not have perfect substitutes.

Single Payer Healthcare: Pluses, Minuses, and What it Means for You

As someone who researches inequities in health care, I’ve diligently followed the debate about healthcare reform.

The Monopoly Markup

Ever wonder why pharmaceuticals are so expensive? In this video, we show how low elasticity of demand results in monopoly markups

The Costs and Benefits of Monopoly

In this video, we explore the costs and benefits of monopolies. We cover how monopolies and patents breed deadweight loss, market inefficiencies, and corruption.

Maximizing Profit Under Monopoly

AIDS has killed more than 36 million people worldwide. There are drugs available to treat AIDS, but the price of one pill is incredibly high in the U.S. — coming in at 25 times higher than its cost. Why is that?

A Price Is a Signal Wrapped Up In An Incentive

In this video, we show how the price system allows for people with dispersed knowledge and information about rose production to coordinate global economic activity.

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