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Q. Explain about Natural Monopoly?
Natural Monopoly: In some industries, economies of scale are so strong that it makes most economic sense for there to be just one supplier. This kind of industry is considered a natural monopoly, because competition would eventually tend to concentrate output in one producer (and this is, in any event, most efficient way to organize production). Governments generally attempt to oversee the operation of natural monopolies through either public ownership or regulation.
How is consumer utility calculated?
Distinction Between Cost and Expenditure As has already been defined, cost is the money equivalent of material and human resources needed to produce a good or a service. Expen
The Money Creation Process is explained below: We can now study the money supply or the creation process. Suppose the government wishes to buy pencils worth Rs. 10 for the offi
explain the managerial decision areas
Warehousing Facilities: These should be expanded in important commercial centres abroad, specially for fast-moving consumer goods. Nowadays, foreign buyers are reluctant to keep
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Three People choose whether to contribute a fixed amount toward the provision of a public good. This good is provided if and only if at least two of them contribute. If it is not p
Problem 1: i) It has often been argued that a monopoly has both costs and benefits. Discuss. ii) Explain, using diagram the short and long equilibrium positions of a monopo
baumol''s sales maximasation model
Expectations played a major role in Keynes' theory of the determination of aggregat output and employment in market economies in the short run. Expectations about future yields on
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