As economists since Adam Smith have recognized, minimizing production cost may not minimize price, since monopolies use their market power to markup price above competitive levels and earn monopoly rents. This historically engendered one of two policy responses. Government ownership in natural monopoly ...
(i) multiple firms will each have to pay large fixed costs to develop their own network of pipes. (ii) allowing for competition among different firms in the water-distribution industry is efficient. (iii) a single firm can serve the market at the lowest possible average total cost. a. (...
From Standard Oil to the tech giants of today, monopolies are deeply rooted in the history of American capitalism. While large companies have exploited their market power due to a lack of competition, there are some cases where monopolies may benefit the consumer and, in turn, the wider econom...
Reviews books on globalization. 'Cable Mergers and Monopolies: Market Power in Digital Media and Communications Networks,' by M. Cooper; 'Media Concentration in the European Market: New Trends and Challenges,' by A. Sanchez-Tabernero and M. Carvajal.EBSCO_bspEuropean Journal of Communication...
economic science,economics,political economy- the branch of social science that deals with the production and distribution and consumption of goods and services and their management corner- a temporary monopoly on a kind of commercial trade; "a corner on the silver market" ...
In many cases, monopolies have gained significant market power in sectors that have high barriers to entry and steep fixed-costs, such as steel, oil, and telecommunications industries. Monopolies often can help a country or region build or shore up its infrastructure quickly, efficiently, and effe...
The meaning of MONOPOLY is exclusive ownership through legal privilege, command of supply, or concerted action. How to use monopoly in a sentence. Did you know?
63.C ".monopolies,depending on how essential their product was,could charge as much as they wanted for their product."64.B "Ida Tarbell's articles.described the methods that these monopolies would use to drive rival companies out of business."65.D 解析 暂无解析 扫码下载文库App 免费查看...
A monopoly is a market structure which has a sole supplier of a good or service who is the price setter. Monopolies maximize prices, exercise price discrimination, and have stringent market entry and exit.Answer and Explanation: Become a Study.com member to unlock thi...
a我的大衣掉了一颗扣子 My coat has fallen a knot[translate] a科学技术给人类带来的灾难。 The science and technology the disaster which brings to the humanity.[translate] aMarket power in local banking monopolies 正在翻译,请等待...[translate]...