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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 goods far too societally significant to be owned/operated by private interests. Therefore, water, gas, sewage, public transportation, telecom etc, is often wholly in the hands of government or local municipal ownership - or at least control.
breif report on cental economic problem??
Name the five types of capital. The five types of capital are: natural capital, manufactured capital, human capital, social capital and financial capital.
Why narrowness of definition of a commodity may influence price elasticity of demand
Question: i) Explain the main problems with government intervention. ii) Why and how do governments seek to control monopolies? iii) A country should specialise in the pr
Factors of Production : The factors of production are the resources that are essential for production. They are usually separated into 4 dissimilar groups: Land - all natu
What is Hicksian demand function? Hicksian Demand Function: The solution of expenditure function that is the function of (p, u) is denoted by h(p, u) and termed as the Hicks
Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, pri
function with equation,variable,parameter
This is the practice of maximizing profits and revenues and minimizing costs, using marginal analysis.
elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
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