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What if the government needs to purchase a single, large piece of property in order to provide a public good, such as a subway station? There is only one private owner with whom to deal. Her property is the only one that is suitable for the station.
(a) Fully explain expropriation.
(b) Should the government be allowed to compel this individual, a monopolist for the contemplated public use, to sell at fair market value?
(c) Fully explain the relevance of monopolistic behaviour to the expropriation problem?
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