Read this chapter to learn the characteristics, workings, and effects of the monopoly model. Take a moment to read through the stated learning outcomes for this chapter of the text, which you can find at the beginning of each section. These outcomes should be your goals as you read through the chapter. Attempt the "Try It" problems at the end of each section before checking your answers.

4. Assessing Monopoly

4.2. Answers to Try It! Problems

  1. monopoly
  2. perfect competition
  3. monopoly
  4. monopoly
  5. monopoly