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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.
Managerial Economies: These are many managerial economies associated with large-scale production. A large firm is in the position to employ more highly qualified and speciali
Explain about the deadweight loss and elasticities. Deadweight Loss and Elasticities: The common rule for economic policy is the other things equal; you need to select the p
how to solve min (x+y/2, 2y+3x, 3x)
show that the necessary and sufficient conditions for consumer equilibrium under both cardinal and ordinal utility theories are identical .
an emission fee levied against polluting firms will tend to shift the supply/demand curve of the firm/product to the left/right?
What are the properties of cost function? Properties of Cost Functions: Some similarities are here with consumer theory. Such similarities are actually exact while one compa
baumol''s theory
Suppose taht two people, Michell andJames each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle
Diversification - Assume that a firm has a choice of selling air conditioners, heaters, or both of them. - The probability of it being hot or cold is 5%. - The firm woul
Sita expects her future earnings to be worth Rs 100. If she falls ill, her expected future earning will be Rs 25, There is a belief that she may fall ill 2 with probability of -3
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