Why are monopoly firms generally inefficient? Provide an example of an efficient monopoly firm, and explain under what circumstances such monopolies behave more efficiently. How does monopoly compare with pure competition in terms of price, output, and efficiency?
What are three reasons why monopolies could exist? 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 ar...
Because such products are so common in the economy, the administrative burden of such regulation would be overwhelming. Moreover, the regulating monopolistic competitors would entail all the problems of regulating natural monopolies. In particular, because monopolistic competitors are making zero profits ...
Because such products are so common in the economy, the administrative burden of such regulation would be overwhelming. Moreover, the regulating monopolistic competitors would entail all the problems of regulating natural monopolies. In particular, because monopolistic competitors are making zero profits ...
Also, without regulation of corporations you get the undermining of democracy, oligopolies or monopolies in entire industries. This is also inevitable. I don’t want free markets, except, possibly in new, immature and developing markets where there are a lot of small players and there is a ...
Why are monopoly firms generally inefficient? Provide an example of an efficient monopoly firm, and explain under what circumstances such monopolies behave more efficiently. Explain why monopoly is not a preferred market system. Why is the long run equilibrium under perfect competition more effecient ...
A market failure occurs when the invisible hand pushes, in such a way that individual decisions do not lead to socially desirable outcomes. What does it mean? Explain monopolistic competition and economic efficiency. Explain how natural monopolies are efficie...
Why are consumers and the public concerned with ethical and socially responsible business decision making? Why do utility companies (and other monopolies) have commercials? Why are managers interested in the concept of consumer surplus? Explain why consumers, companies, and policymakers might at t...
Why are the monopolist's and the monopolistically competitive firm's demand curves downward sloping while the competitive firm's demand curve is horizontal? Explain Monopolist's rule for profit maximization. Why is marginal cost less than average total cost in natural mon...
Why is public policy generally against the formation of monopolies? Why does the fixed cost decrease when the variable cost is increasing? What are some reasons as to why the government controls prices? Explain fully why the private sector of a free enterprise economy cannot produce public ...