Economics Homework Help

Watch this video and answer these questions:

1. Professor Kiesling mentions monopolies may not be the sole suppliers of their product or service in the long run for a specific reason. What is that reason and why is it effective?
2. If the monopoly is to be regulated, do you think it drives away innovation from the monopoly? Why or why not?
3. Your book mentions several ways a monopoly arises. Professor Kiesling mentions one of these. She also argues that it may be costly for this to persist. What is Professor Kiesling stating that allows monopoly to arise and why is it costly to society?