In markets where minimum efficient scales are very high

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In markets where minimum efficient scales are very high relative to demand, government often steps in to regulate. Firms in such markets are usually legally protected from competition but often seem to be productively inefficient. Explain why this is puzzling. How can the puzzle be resolved, if at all? What are the main alternative approaches? Discuss briefly the advantages and disadvantages of each.

Reference no: EM13373493

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