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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).
Ways in which the markets fail and discuss why government intervention is justified and whether government intervention works or not.
Identify path of growth and development to economic maturity.
Absolute advantage is the simplest yardstick of economic performance and it may be simply describe as If one person or a firm or a country may produce more of something with the sa
Determinants of Private Demand - Unemployment Rate Unemployment rates linked to specific courses of study can be useful indicators to determine investment in education. Their
In John Stossel's article, "In Praise of Price Gouging", Stossel argues that a law banning price gouging would result in a two-block line for gasoline after Superstorm Sandy. a.
Determine the indirect utility function in brief. Indirect Utility Function: The ordinary utility function, u(x), is described over the consumption set X and thus to as the
Two consumers John and grayson like to transfer songs to their phones from jose phone the table represents their willingness to pay and jose willingness to accept for each download
What are the possible advantages of free trade? Firms a) Specialisation and enhanced use of comparative advantage b) Possibility of advantages of scale c) Spread
Manpower-Population Ratios In this technique, manpower will not be planned for the economy as a whole. It will be planned for sectors or sub-sectors of an economy. For instanc
Determine the profit maximizing price and quantity A firm has segmented its market into the following demand functions: P1 = 500 – 50Q P2 = 500 – 20Q with a cost fu
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