(2) The Declining Marginal Revenue Curve in Monopoly
Monopoly, Marginal Revenue
This explains why the Marginal Revenue firm for a Monopoly is different from price, and that the Marginal Revenue Curve Declines more rapidly than the Average Revenue (Demand) Curve
Crane, Steven E., "(2) The Declining Marginal Revenue Curve in Monopoly" (2011). Principles of Microeconomics. Paper 52.
Ability to explain why Marginal Revenue might decline more rapidly than Average Revenue (Price). Ability to draw and explain a typical Monopoly's Average and Marginal Revenue Curves.
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