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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.
Gasoline Rationing - In the year 1974 and again in the year 1979, the government imposed price controls on gasoline. - This resulted in scarcity and gasoline was rationed.
If a 10% increase in the price of computers leads to a 20% reduction in the quantity demanded, what is the coefficient of demand elasticity? 2. A local government wants to increase
functions of taxes
what are the tools for decision making
2) Proctor & Gamble (P&G)
Explain why goods provided by natural monopolies are often publicly owned. It would seem that most normal monopolies come with high MSB and also that society has deemed these g
Ask qI run a company that makes household power plants that use microeconomic textbooks to generate enough electricity each day for one house. Since there are a lot of used microec
Price elasticity of supply – Computes the percentage change in quantity supplied resulting from a 1 percent variation in price. – The elasticity is usually positive as price
Q. What do you meant by Deficit? Deficit: When a business, government or household spends more in a given period of time than they generate in income, they suffer a deficit. A
A monopolist''s demand curve is P=100-2q. find his MR function. at what price is MR zero
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