0
What is the economic welfare costs associated with monopolistic competition?
Wiki User
∙ 11y ago
Welfare costs refers to less than optimal meeting of the preferences of a population, including preferences for goods and services but also including things like environmental protection, diversity, and fairness.
In monopolistic competition rent seeking (manipulation of the social or political environment) drives up prices and reduces consumption of nonessential purchases. The welfare costs from monopolies are the reductions in the welfare of society due to lower production and lower consumption of something that is needed or wanted.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
2 advantages and disadvantages of command economy?
The welfare of all citizens is the primary goal of the economic system. Wasteful competition is avoided wages are controlled by the state.
What has the author Richard N Vaughan written?
Richard N. Vaughan has written: 'Anticipated welfare loss in monopolistic and related market structures'
Who introduced the concept of net economic welfare?
Samuelson
Does the increase in the GNP reflect the standard of living and economic welfare?
An increase in the GNP does not always reflect the standard of living and economic welfare of the general population, though it usually does.
What has the author William G Shepherd written?
William G. Shepherd has written: 'Utility regulation' 'The economics of industrial organization' -- subject(s): Industrial organization (Economic theory) 'Microeconomics' -- subject(s): Microeconomics 'Market power and economic welfare' -- subject(s): Competition, Industrial organization (Economic theory), Monopolies
What has the author Martina Shea written?
Martina Shea has written: 'Characteristics of recipients and the dynamics of program participation, 1987-1988' -- subject(s): Economic aspects, Economic aspects of Households, Households, Income distribution, Public welfare, Statistics, Welfare recipients 'Dynamics of economic well-being' -- subject(s): Domestic Economic assistance, Economic assistance, Domestic, Poor, Poverty, Public welfare, Statistics
What has the author John F Sleeman written?
John F. Sleeman has written: 'Resources for the welfare state' -- subject(s): Economic aspects of Public welfare, Finance, Public welfare, Welfare state
Why did some European nations decide to limit welfare state benefits in the 1980s and 1990s?
Some European nations decided to limit welfare state benefits in the 1980s and 1990s due to fiscal pressures caused by economic downturns, rising unemployment, and increasing global competition. Additionally, concerns about sustainability, efficiency, and dependency were also factors that influenced the decision to reform welfare policies during that period.
What is a good definition of economic equity?
Economic equity is the concept of fairness in economics, especially concerning taxation or welfare.
In which of the following market structures do firms produce the welfare-maximizing level of output?
Perfect competition!
Define public sector?
the economic sector asset by government for public welfare.
What government policy pursued the economic goal of equity?
providing welfare benefits
