Demonstrate your understanding of how supply and demand differ between monopolies and perfectly competitive markets and how these two markets determine the quantity supplied and market prices.

Supply and demand

Demonstrate your understanding of how supply and demand differ between monopolies and perfectly competitive markets and how these two markets determine the quantity supplied and market prices.

Provide explanations of how the price effect and the quantity effect cause marginal revenue to be different from the price.

Demonstrate your understanding of the impact of different government price regulations on monopolies.