How is monopoly different from perfect competition?

What is a barrier to entry? Give examples.

What is a natural monopoly?

What is a legal monopoly?

What is predatory pricing?

How is intellectual property different from other property?

By what legal mechanisms is intellectual property protected?

In what sense is a natural monopoly natural?

How is the demand curve perceived by a perfectly competitive firm different from the demand curve perceived by a monopolist?

How does the demand curve perceived by a monopolist compare with the market demand curve?

Is a monopolist a price taker? Explain briefly.

What is the usual shape of a total revenue curve for a monopolist? Why?

What is the usual shape of a marginal revenue curve for a monopolist? Why?

Knowing the total revenue and total cost curves, how can a monopolist identify the profit-maximizing level of output?

Knowing the marginal revenue and marginal costs, how can a monopolist identify the profit-maximizing level of output?

When a monopolist identifies the desired profit-maximizing quantity of output, how does he or she decide what price to charge?

Is a monopolist allocatively efficient? Why or why not?

How does the quantity produced and price charged by a monopolist compare to that of a perfectly competitive firm?