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As there are natural monopoly market situations it is in the public interestto permit monopolies, but traditionally in the United States they are regulated with respect to price. The purpose of the rate regulation was to make sure that the public would not suffer price gouging as a result of the monopoly position of the firms. Some examples of regulated natural monopolies are electric utilities, cable TV companies, and telephone companies (local).
Discretionary Fiscal Policy: Some government taxing and spending programs can be adjusted by government in response to changing economic circumstances. These discretionary measures
factors that affects the volume of production
Benefits of Education The returns a person/society (state/government) gets from acquiring education is referred to as benefits from education. If such returns are paid/receive
Compensated Demand Curve: Compensated demand function for a commodity (say x1) of an individual consumer represents demand quantity for that good (which is purchased by the co
Price | Quantity demanded _________________________ 0 250 50 200 100 150 150 100 200 50 250 0 A) Calculate Lorie''s profit-maximizing output, price, and economic profit. B) Do yo
demand curve
Uses of price and income elasticity of demand: The concept of price elasticity of demand has some uses whihc include the following: (i) Pricing of goods and services It is
What are the advantages of using mathematics in Modern Economics? Many of the advantages of using mathematics are as follows: a. The “language” used and the explanations of
Cost Sharing in Higher Education - Graduate Tax Another commonly suggested measure is to tax the employers employing educated manpower. The case for this method is made on the
determinants of demand and determinants of supply
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