Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! http://econclassroom.com/?page_id=5870
Views: 81049 Jason Welker
Mr. Clifford's 60 second explanation of regulating monopolies. The government can regulate at socially optimal quantity (D = MC) to get them to produce the allocatively efficient output or they can get them to produce at fair return (D=ATC) where they make no economic profit. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class. ACDC is Mr. Clifford's teaching philosophy: Active Learning Cooperative Learning Discovery Learning Community
Views: 189845 Jacob Clifford
This short revision video looks at the concept of a natural monopoly and explains how to build good chains of reasoning to score higher analysis marks in an A level microeconomics paper. A natural monopoly does not mean that there is only one business operating in the market. But with a natural monopoly the economies of scale available to the largest firms mean that there is a tendency for one business to dominate the market in the long run.
Views: 1765 tutor2u
Y2 18) Natural Monopoly. Everything you need to know about Natural Monopoly in full detail For Products, Services and Bookings visit https://econplusdal.com Instagram: https://www.instagram.com/econplusdal Twitter: https://twitter.com/econplusdal Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel End Music: Relax by Peyruis https://soundcloud.com/peyruis Creative Commons — Attribution 3.0 Unported — CC BY 3.0 http://creativecommons.org/licenses/by/3.0/ Music promoted by Audio Library https://youtu.be/NvCDF7iUgIA
Views: 11925 EconplusDal
This lesson covers monopoly and government regulation. An unregulated monopoly will produce a small quantity but charge a high price for their products. The government could mandate that the firm produce at the socially optimal level, but it could create major losses for the firm. The government and the firm can come to an agreement called a fair return, which benefits both the firm and society.
Views: 8105 Chris Thomas
This somewhat technical video gives some background for understanding debates over cable TV and other media issues. Economics of the Media course: http://mruniversity.com/courses/economics-media Ask a question about the video: http://mruniversity.com/courses/economics-media/weak-and-strong-natural-monopoly#QandA Next video: http://mruniversity.com/courses/economics-media/cable-tv-regulation
Views: 847 Marginal Revolution University
Competition Policy - Monopoly Regulation. Crucial video covering monopoly regulation through competition policy. Privatisation: https://www.youtube.com/watch?v=9jvz6sSWzQA Deregulation: https://www.youtube.com/watch?v=3jeKA4V30kk&t=6s Trade Liberalisation: https://www.youtube.com/watch?v=aPJTi3gGOHs&t=13s Twitter: https://twitter.com/econplusdal Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
Views: 47761 EconplusDal
Firms that are referred to as natural monopolies enjoy such strong cost advantages to being big and powerful that their marginal cost curve never starts sloping upward. In these cases marginal cost is constant and MC=ATC. However, marginal cost doesn't technically have to be constant. A natural monopoly is very inefficient because they are NOT producing at the socially optimal level.
Views: 5554 Chris Thomas
Prof. Lynne Kiesling discusses the history of regulating electricity monopolies in America. Conventionally, most people view regulation of monopoly, such as the Sherman Antitrust Act, as one of government's core responsibilities. Kiesling challenges this notion, and finds that government regulation of monopoly actually stifles innovation and hurts consumers. The American electricity industry was booming in the 1890s, with several small firms competing against one another. Over time, Kiesling argues that the fixed costs began to escalate, increasing the cost of entry into the industry. Put another way, large competitors gained a significant competitive edge over smaller competitors through economies of scale. Eventually, in places like New York and Chicago, Kiesling claims that the competitive process led to one large firm. These monopolies were feared by the public, and led to demands for government regulation. The electricity industry, knowing that regulation was coming, used these demands for regulation as cover to construct legal barriers to entry. Ultimately, the regulations passed by the government reduced competition by granting legal monopoly privileges to powerful firms within a certain geographical territory. In modern times, we are seeing the real cost of these old one-size-fits-all regulations: 1) People aren't adjusting their energy consumption behaviors. For instance, in peak hours, technological solutions that could smooth electricity consumption are being ignored. 2) The electricity industry doesn't evolve and account for new types of renewable energy. 3) Innovations have been discouraged. If these archaic regulations were removed, innovations and improvements beneficial to consumers would flourish. For more information, check us out here: http://lrnlbty.co/zcPIQr Watch more videos: http://lrnlbty.co/y5tTcY
Views: 52784 Learn Liberty
Presenters: Richard Begley, Stefan Mero, WA Economic Regulation Authority
Views: 38 AARES/ARE-UWA
I am an undergraduate student at York University. After I review each section of a chapter, I make a video about what I have learnt. I am not attempting to make a professional video, this is just a way that helps me understand material -- by teaching it to others.
Views: 445 hashmat187
What is a monopoly? It turns out, it's more than just a board game. It's a terrible, terrible economic practice in which giant corporations dominate markets and hurt consumers. Except when it isn't. In some industries, monopolies are the most efficient way to do business. Utilities like electricity, water, and broadband internet access are probably less efficiently delivered in competitive markets. Come along, and let us monopolize your attention for a few minutes. You might learn something. And you might land on Free Parking. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever: Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks -- Want to find Crash Course elsewhere on the internet? Facebook - http://www.facebook.com/YouTubeCrashCourse Twitter - http://www.twitter.com/TheCrashCourse Tumblr - http://thecrashcourse.tumblr.com Support Crash Course on Patreon: http://patreon.com/crashcourse CC Kids: http://www.youtube.com/crashcoursekids
Views: 517235 CrashCourse
What is NATURAL MONOPOLY? What does NATURAL MONOPOLY mean? NATURAL MONOPOLY meaning - NATURAL MONOPOLY definition - NATURAL MONOPOLY explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. A natural monopoly is a monopoly in an industry in which high infrastructural costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors. This frequently occurs in industries where capital costs predominate, creating economies of scale that are large in relation to the size of the market; examples include public utilities such as water services and electricity. Natural monopolies were discussed as a potential source of market failure by John Stuart Mill, who advocated government regulation to make them serve the public good. Two different types of cost are important in microeconomics: marginal cost, and fixed cost. The marginal cost is the cost to the company of serving one more customer. In an industry where a natural monopoly does not exist, the vast majority of industries, the marginal cost decreases with economies of scale, then increases as the company has growing pains (overworking its employees, bureaucracy, inefficiencies, etc.). Along with this, the average cost of its products decreases and increases. A natural monopoly has a very different cost structure. A natural monopoly has a high fixed cost for a product that does not depend on output, but its marginal cost of producing one more good is roughly constant, and small. All industries have costs associated with entering them. Often, a large portion of these costs is required for investment. Larger industries, like utilities, require enormous initial investment. This barrier to entry reduces the number of possible entrants into the industry regardless of the earning of the corporations within. Natural monopolies arise where the largest supplier in an industry, often the first supplier in a market, has an overwhelming cost advantage over other actual or potential competitors; this tends to be the case in industries where fixed costs predominate, creating economies of scale that are large in relation to the size of the market, as is the case in water and electricity services. The fixed cost of constructing a competing transmission network is so high, and the marginal cost of transmission for the incumbent so low, that it effectively bars potential competitors from the monopolist's market, acting as an early insurmountable barrier to entry into the market place. A firm with high fixed costs requires a large number of customers in order to have a meaningful return on investment. This is where economies of scale become important. Since each firm has large initial costs, as the firm gains market share and increases its output the fixed cost (what they initially invested) is divided among a larger number of customers. Therefore, in industries with large initial investment requirements, average total cost declines as output increases over a much larger range of output levels. Companies that take advantage of economies of scale often run into problems of bureaucracy; these factors interact to produce an "ideal" size for a company, at which the company's average cost of production is minimized. If that ideal size is large enough to supply the whole market, then that market is a natural monopoly. Once a natural monopoly has been established because of the large initial cost and that, according to the rule of economies of scale, the larger corporation (to a point) has lower average cost and therefore a huge advantage. With this knowledge, no firms attempt to enter the industry and an oligopoly or monopoly develops......
Views: 3053 The Audiopedia
I explain how to draw and anaylze a monopoly graph. Make sure to answer the questions and check out the bonus dance at the end. No! We can't play the board game.Thanks for watching. Please subscribe. Microeconomics Videos https://www.youtube.com/watch?v=swnoF533C_c Macroeconomics Videos https://www.youtube.com/watch?v=XnFv3d8qllI Watch Econmovies https://www.youtube.com/playlist?list=PL1oDmcs0xTD9Aig5cP8_R1gzq-mQHgcAH Follow me on Twitter https://twitter.com/acdcleadership
Views: 755794 Jacob Clifford
Understanding the rationale, intentions and downside risks of using deregulation to help make monopoly and natural monopoly markets more efficient.
Views: 3813 EconplusDal
Asp url? Q webcache. Therefore it has a huge barrier to entry. Natural monopolies are conducive to industries where the largest supplier natural monopoly definition, meaning, what is a situation in which one company able supply whole market for product or most so called public utilities have been granted governmental franchise because they thought be 'natural. Additionally, natural monopolies can arise in industries that require unique raw materials, technology or other similar factors to operate definition of monopoly situation where one firm (because a material, technology, factors) supply market's entire demand for the largest supplier an industry, often first market, has overwhelming cost advantage over actual potential competitors; This tends be case fixed costs predominate, creating economies scale are large relation what is monopoly? For long run average curve (lrac) falls continuously range outputnov 28, 2012 occurs when most efficient number firms industry. Learn about some everyday services that you use are provided by companies natural monopoly is a exits as result of market situation in which single monopolistic firm can supply particular product or service to the theoretically, arises when there very large 'economies scale' relative existing demand for industry's product, so larger monopolies, especially regulated government, but it hard keep business, achieve marginal cost pricing, may 25, 2014 an industry one good entire at lower than could two more firms sampurna das said, requires extremely high fixed like construction infrastructure. Natural monopolies exist when one firm dominates an industry. Put simply, a natural. Natural monopoly investopediawhat is a natural monopoly? Definition and meaning wikipediatutor2u economicsoecd glossary of statistical terms definition. An electric company is ic example of natural monopoly. Regulation of natural monopoly boundless. Natural monopoly investopedia. Learn more about regulation of natural monopoly in the boundless open textbook. Natural monopoly definition in the cambridge english dictionarythe myth of natural. Natural monopoly definition the linux information projectnatural in economics & examples video natural a glossary of political economy terms dr. A good or service) is lower due to economies of natural monopoly exists when average costs continuously fall as the firm gets larger. Natural monopoly investopedia terms n natural_monopoly. Paul chapter 15 monopoly flashcards what is example of natural monopoly? Quora. A natural monopoly will typically have very high fixed jan 3, 2002 a exists in particular market if single firm can serve that at lower cost than any combination of two or more firms when derive most the benefits economies scale available to whole industry jun 16, 2005 is because producing product (i. A natural monopoly is a type of that exists as result the high fixed costs or startup operating business in specific industry. Googleusercontent search. Once the aug 11, 2015 find out what a natural monopoly is and why they exist.
Views: 287 Bet My Bet
Buy 'How Capitalism Saved America | by Thomas J. DiLorenzo': http://amzn.to/1GUXmEK --- My website: http://www.vforvoluntary.com/ Reddit: http://www.reddit.com/r/austrian_economics/ The 2006 Steven Berger Seminar: Thomas DiLorenzo on Liberty and American Civilization http://mises.org/events/86 June 5-9, 2006 LUDWIG VON MISES INSTITUTE - CREATIVE COMMONS ATTRIBUTION 3.0 MP3 files of this lecture series 1-5: http://www.mediafire.com/?lol1q61emb1ac98 6-10: http://www.mediafire.com/?bmrem3dswczfg5e -- 'The Myth of Natural Monopoly', originally published in The Review of Austrian Economics 9 (2), 1996: http://mises.org/daily/5266/The-Myth-of-Natural-Monopoly
Views: 7674 V for Voluntary Library
Monopoly concepts and graphs that you must know for the AP Microeconomics exam in 5 minutes. In this video: 1. Monopoly overview 2. Economic profits 3. Economic losses 4. Inefficiencies of monopolies & deadweight loss 5. Socially-optimal regulation 6. Fair-return regulation 7. Total revenue maximization & elasticity 8. Perfect price discrimination (1st degree) http://mrmedico.info
Views: 73339 No Bull Economics Lessons
Here is a short video building analysis and evaluation arguments on this question: "Evaluate the impact of the existence of a natural monopoly on consumer welfare" CONNECT WITH TUTOR2U ECONOMICS Web: https://www.tutor2u.net/economics Twitter: tutor2u Economics: https://twitter.com/tutor2uEcon Twitter: Geoff Riley https://twitter.com/tutor2uGeoff Facebook: https://www.facebook.com/tutor2u Instagram: https://www.instagram.com/tutor2uecon/ MORE HELP WITH A LEVEL & IB ECONOMICS Online webinars: https://www.tutor2u.net/economics/events/students/online Revision Workshops: https://www.tutor2u.net/economics/events/students/face-to-face Study Notes on every Topic: https://www.tutor2u.net/economics/reference/study-notes Key topics: https://www.tutor2u.net/economics/topics - - - - - - - - - MORE ABOUT TUTOR2U ECONOMICS: Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more: https://www.tutor2u.net/economics A Level Economics Revision Flashcards: https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards A Level Economics Example Top Grade Essays: https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics
Views: 4918 tutor2u
This topic video considers outcomes for monopoly in terms of allocative, productive and dynamic efficiency and also looks at some arguments in favour of monopoly power in markets. For more help with your A Level / IB Economics, visit tutor2u Economics http://www.tutor2u.net/economics If you find this topic video helpful, please SUBSCRIBE to our YouTube Channel For more help with Economics: Follow tutor2u Economics on Twitter: https://twitter.com/tutor2uEcon https://twitter.com/tutor2uGeoff - - - - - - - - - MORE ABOUT TUTOR2U ECONOMICS: Visit tutor2u Economics for thousands of free study notes, videos, quizzes and more: https://www.tutor2u.net/economics A Level Economics Revision Flashcards: https://www.tutor2u.net/economics/store/selections/alevel-economics-revision-flashcards A Level Economics Example Top Grade Essays: https://www.tutor2u.net/economics/store/selections/exemplar-essays-for-a-level-economics
Views: 14922 tutor2u
Subject:Business Economics Paper: Economics of services Module :Role of Infrastructure in Economic Development, Natural Monopoly and Economics of Infrestructure Regulation
Views: 3497 Vidya-mitra
Today were looking a demand side economies of scale and seeing if Facebook, Youtube and other social networks have gained their incredibly large market share naturally or artificially, is it the state or the market? Links: https://www.cfda.gov/?hide_test_message=1 https://www.investopedia.com/terms/s/switchingcosts.asp https://www.investopedia.com/terms/n/network-effect.asp https://www.slideshare.net/a16z/network-effects-59206938/31-C_O_N_S_TA ---------------------------------------------------------------------------------------------- http://traditionalreview.com Twitter: https://twitter.com/truediltom Patreon: https://www.patreon.com/user?u=3520954 Instagram: https://www.instagram.com/t_r_u_e_d_i_l_t_o_m/ Soundcloud: https://soundcloud.com/truediltom Discord: https://discord.gg/RrcK4Ku Ask.fm: https://ask.fm/truediltom Merch: https://teespring.com/en-GB/stores/truediltom Facebook: https://www.facebook.com/dylan.thomas.121772 ----------------------------------------------------------------------------------------------
Views: 4713 T Я U Σ Ð I L T O M