The IB syllabus requirements for this sub-topic are to understand:

  • Assumptions of the model
  • Sources of monopoly power/barriers to entry
  • Natural monopoly
  • Demand curve facing the monopolist
  • Profit-maximizing level of output
  • Advantages and disadvantages of monopoly in comparison with perfect competition
  • Efficiency in monopoly

Here are a selection of useful resources to further your understanding of the above.

Two very good presentations on monopolies courtesy of





Above Video Source: mjmfoodie

pajholden asks if monopoly is bad here?