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Four approaches by listing the advantages and disadvantages

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Reference no: EM13674085

Policymakers can respond to the inefficiency of monopoly behavior in four distinction ways, according to our text. They can: use antitrust laws to try to make the industry more competitive; use price regulation to impact what the monopolist is allowed to charge; take over the operation by turning it into a government run enterprise (nationalize); or do nothing at all (laissez faire).
Please respond to all of the following prompts:

  • Critique each of these four approaches by listing the advantages and disadvantages of each.

•If you were a policymaker, which approach would you favor? Why?

 

Reference no: EM13674085

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