A single-price monopoly is inefficient because the firm has the market power to charge higher prices with less quantity sold in the market. It means... Learn more about this topic: Monopoly in Economics | Definition, Characteristics & Types ...
How is the monopolistic competition like monopoly? How is it like a perfect competition? Why is a single-price monopoly inefficient? Why is a firm under a monopoly known as a price maker? Explain why price competition is rare in oligopoly. ...
These barriers faced by sustainable entrepreneurs include imperfect information, government intervention, monopoly power and deficient price mechanisms that strengthen the position of the dominant technology and the incumbents’ corresponding interests. They found that active corporate political activity can be ...
In economic jargon, the situation we are describing is closer to price discrimination. A monopolist capable of discriminating may extract even more consumer surplus, and thus further increase his profits, with respect to simple, uniform monopoly pricing. In our examples, the discrimination is performe...
Both production and network companies are regulated as non-profits to protect consumers against possible abuses of monopoly. The “non-profit principle” (or “principle of necessary costs”), combined with favorable financial-support schemes, has kept customer prices relatively low and free of comme...
And now, finally, my post on the optimal tax regime. It will be nice to finally get this off my chest, as you can’t imagine how enraged I get reading progressives talk about the “principle” that all forms of income should be taxed equally (which is l
it (cf. Attas [2008]). Exclusive rights on the object are not necessary to enjoy the fruits of one’s intellectual labour, at least when considering individual use. This changes however, if under enjoying the fruit’s of our labour we also include charging monopoly rents from the use of ...
In this paper, we use tax and household survey data to assess the history of income distribution in Argentina since the beginning of the 20th century. Until the 1970s, the country experienced a fall in inequality in spite of lower income growth. Since th
also dubious applications of evolutionary theory. In the pseudo-Smithian account, private goods get amalgamated into public goods by the invisible hand. In the social evolutionary account, the human race is improved by relentless competition among individuals and classes that weeds out inefficient habi...
Socially optimal price can be described as when the economy or the market structure used in the economy gains a marginal cost equal to its marginal benefit. When a monopoly gains that, it can also be referred to as achieving allocative efficiency, and...