Monopoly | A-Level Economics Notes
These revision notes cover everything you need to know about Monopoly for A-Level Economics. They're designed for students studying AQA A-Level Economics, Edexcel A-Level Economics, and Edexcel International A-Level Economics. Written by Jaisul Naik, UCL Economics graduate and A-Level Economics tutor since 2017.
What is a pure monopoly?
A pure monopoly is the only firm in the market.
A pure monopoly has 100% market share.
What is monopoly power?
When a firm has 25% or more market share.
What are the charactertics of a monopoly?
- high barriers to entry
- product differentiation
- imperfect information
- firms are price makers
Monopoly diagram
