Some markets are served by one single supplier. This single supplier is called a monopolist and has absolute market power. Where as in a perfectly competitive market, all suppliers are price takers, a monopolist is a price maker! The monopolist decides which quantity is provided to the market and which price will be asked. Intuitively, one would conclude that all monopolists should be making extremely high profits. Simply, “because they can”. In reality however, this is not always the case. In this session, we will explain you why.
All monopolists make excessive profits? Think again!
Overview
Date
26. June 2023: 10 am – 12 am (CEST)
Format
Hybrid: online & onsite (BELGIUM)
Target Groups
Open to all students, academic staff and non-academic staff!
Language
English
Duration
2 h
Registration
Participation fee
Free of charge
Organisation
VIVES University of Applied Sciences
Teacher(s)
Stephan Weemaes is lecturer and researcher at VIVES University of Applied Sciences. He teaches economics, design thinking and international business development. His research with a focus on the strategic impact of external advisory services and boards of directors within startups and SMEs was published in top journals including Academy of Management Perspectives, Small Business Economics and Strategic Entrepreneurship Journal.
Contact person
Details
Some markets are served by one single supplier. This single supplier is called a monopolist and has absolute market power. Where as in a perfectly competitive market, all suppliers are price takers, a monopolist is a price maker!
The monopolist decides which quantity is provided to the market and which price will be asked. Intuitively, one would conclude that all monopolists should be making extremely high profits. Simply, “because they can”. In reality however, this is not always the case. In this session, we will explain you why.