How would officially granted monopolies affect the operation

Reference no: EM131920900

Question: 1. How would officially granted monopolies affect the operation of our economic system? Consider the effect on allocation of resources, the level of in-come and employment, and the distribution of in-come. Is the effect any different if a firm obtains monopoly by winning out in a competitive market?

2. Comment on the following statement: "Ultimately, the high cost of marketing is due only to consumers.

Reference no: EM131920900

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