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What are the differences between perfect competition and monopoly competition?
Ans) In a monopoly, you are gaining an unfair benefit over any competition because you own so many infrastructures. Monopolies used to be called as trusts, which is why you sometimes hear of Anti-Trust Law violations.
At one time, AT&T owned each phone line, each phone and every piece of phone equipment in the country. They monopolized the industry; how could you compete with them when they owned everything? Likewise, the Post Office has an excellent infrastructure for delivering mail, but they do not have a monopoly due to FedEx and UPS and DHL have all found ways to carve out a healthy piece of the parcel moving business, so though UPS always grumbles about the Post Office, they do OK in competition.
State the both -Cyclical and Classical unemployment Cyclical unemployment Unemployment because of a recession. Classical unemployment Unemployment because of
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Why is private property, and theand the protection of property rights , so critical to the success of the market system ? How do property rights encourage cooperation?
To the extent that statutory compliance mandates conditions that formerly were only available to workers who had union negotiating power to win such conditions at the bargaining ta
the central economic problem facing the group of survivors
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