• create a monopoly market example and use the monopoly diagram to explain it.
• Draw a monopoly diagram.
• Explain why monopolies are inefficient.

1. Describe your fictitious company and its product that it sells on the market

2. Explain the barrier that you have that makes this company a monopoly (Tip: look to your text in section 9.1 and read about the barriers that create a monopoly and use one of those that makes sense with your company).

3. Draw and post a monopoly diagram for that company and show that company earning profits.