In this outcome, you’ll see why monopolies are inefficient. They produce less, at a higher average cost, and charge a higher price than would a combination of firms in a perfectly competitive industry. Because of this, they are neither allocatively or productively efficient. Here are some of...
U.S. antitrust laws are designed to prohibit monopolization and encourage competition. Why then does the government erect barriers to entry and create monopoly power by granting firms patents? Why are monopoly firms generally inefficient? Provid...
Are Government Monopolies Inherently Inefficient?KENT GRUSENDORF
Why are monopoly firms generally inefficient? Provide an example of an efficient monopoly firm, and explain under what circumstances such monopolies behave more efficiently. What is the least competitive industry that is not dominated by a government-sanctioned monopoly?
Companies become lazy, inefficient and lack the motivation to improve. You can’t blame them. And judging by their bank accounts, they’re doing a great job. The sufferers are the customers who, like Emily, get terrible service at higher prices and have no choice… Internal monopolies Most...
is a lot different than the monopolies of yesteryear: aggregators aren’t limiting consumer choice by controlling supply (like oil) or distribution (like railroads) or infrastructure (like telephone wires); rather, consumers are self-selecting onto the Aggregator’s platform because it’s a better...
There aren’t any reliable figures we can use to estimate the rate of infection during the current lag period (ie from 12 March to 22 March). This is because the vast majority of cases have not been from unexplained community transmission. Most of the cases are from people who have been...
Illinois Rates High Electricity rates in Illinois are about 30 percent higher than the Midwestern average, mostly because of poor planning and bad investments in inefficient nuclear plants, says the Citizens Utility Board, a consumer advocate group. The state also has large cost disparities among ...
Yes. Monopolies always underproduce because they are allocative inefficient. Allocative efficiency demands that production is at the right level... Learn more about this topic: Pure Monopoly Overview, Characteristics & Examples from Chapter 16/ Lesson 6 258...
Explain why monopolies are economically inefficient. Why do monopolies form, and are they an inherent feature of free-market economies? Why monopolies are avoided so much? Why some monopolies are broken up by the justice department while others are allowed to continue as monopolies? Give some exam...