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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.
Yuen, a travelling salesman for snake oil, can produce the stuff at a marginal cost of 1. There are 100 potential customers in Vernon, each of whom has the following demand functio
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Average product and marginal product: Average product (AP) is the output per unit of the variable factor employed. In other words, it is the productivity of the variable facto
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discuss the problems of measuring productivity in actual work situations. how might productivity be measured for each of the following industries: education, government and manufac
Differentiate between oscillation and damp cobweb model
AVOGADRO''S HYPOTHESIS In equal volumes of gases including all under similar conditions of temperature & pressure keeps equal number of molecules. Avogadro''s law and Applicatio
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The plant cell when placed under hypertonic medium loses a great quantity of water and its cell membrane detaches from the cell wall. In that situation the cell is known as plasmol
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