Define monopoly power
Talk about the negatives of monopoly power, high prices, less choice, lower consumer surplus - use diagram
Talk about potential positives, efficiency, ability to use profits for research and development
Conclude
Other topics,
Barriers to entry, motor manufacturing probably has high barriers to entry
How the government could regulate to prevent monopoly power being exploited, price caps etc.
Talk about the negatives of monopoly power, high prices, less choice, lower consumer surplus - use diagram
Talk about potential positives, efficiency, ability to use profits for research and development
Conclude
Other topics,
Barriers to entry, motor manufacturing probably has high barriers to entry
How the government could regulate to prevent monopoly power being exploited, price caps etc.
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