Imagine that a firm is the sole producer in a market, i.e., a monopolist. How does the monopolist behave? How does that behavior differ from the case of a firm in perfect competition? In this course, you will examine how the monopolist behaves. You will examine the cost structure that results in a natural monopoly and the choices that firms put into making pricing decisions in these contexts. Finally, you will analyze a model of monopolistic competition between firms and consider how they fight to reduce new firms from entering their industry. Throughout exploring these new definitions and models, you will work on a course project that will help contextualize these concepts into your life and work.