|Due By (Pacific Time)
||10/07/2016 11:00 am
Explain the theory of monopoly. Focus on explaining the case in which the monopolist charges a single price. Use a single graph to illustrate the different outcomes (in terms of price and quantity of output) between competition and monopoly. Show how competition maximizes total surplus, whereas monopoly causes dead weight loss.
Your graphs should be hand drawn. They should not be cut and pasted from another source. The essay should be typed in a word processor. If you use citations, be sure to use APA formatting to cite the textbook and any other sources you use.
Your essay should be 2-3 pages written (not including the graphs). You may draw the graphs on a separate page and attach them behind your essay. Use 1.5 spacing and a standard font, such as Calibri or Times New Roman. Use one line for the heading, which says Writing Assignment: Monopoly and Competition
PLEAS FOLLOW THE STEPS IN THE RUBRIC ATTACHED EXACTLY!!!