This lesson goes through the market structure and properties of monopolies and a monopolistic market. Oligopolies are covered in the lesson ‘‘Oligopolies and price discrimination in IB Economics’’.
Practical examples are shown to make it easier for students to understand these concepts. Additionaly, there is a revision quiz at the start of the lesson and a brief assessment at the end of the lesson. This lesson should last between 75 and 90 minutes.
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