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Who benefit a monopoly?
The owner of the monopoly benefits most.
Is an electricity company an example of monopoly?
Yes, it is more beneficial for the economy to have utilities as a monopoly, although they are considered as a 'natural' monopoly. Governments can nationalise the utility in order to maximise social welfare rather than maximise profit, this will keep prices low, keep output high and increase consumer surplus and consumer choice. Your welcome
What is the difference between the term 'monopoly' and 'natural monopoly'?
The difference between the term 'monopoly' and 'natural monopoly' is a monopoly is a market situation one group controls the availability and price of a service or item. A natural monopoly is a service or item that is provided by a single sorce. An example would be transportation like buses, or taxies.
Which type of competition leads to exploitation of consumer?
Monopoly
Is a diamond a natural monopoly?
No.
Who benefit a monopoly?
The owner of the monopoly benefits most.
Is an electricity company an example of monopoly?
Yes, it is more beneficial for the economy to have utilities as a monopoly, although they are considered as a 'natural' monopoly. Governments can nationalise the utility in order to maximise social welfare rather than maximise profit, this will keep prices low, keep output high and increase consumer surplus and consumer choice. Your welcome
What is the difference between the term 'monopoly' and 'natural monopoly'?
The difference between the term 'monopoly' and 'natural monopoly' is a monopoly is a market situation one group controls the availability and price of a service or item. A natural monopoly is a service or item that is provided by a single sorce. An example would be transportation like buses, or taxies.
Which type of competition leads to exploitation of consumer?
Monopoly
Is a diamond a natural monopoly?
No.
How would you classify the monopoly game as a consumer product?
A board game
What are the four conditions in place in a perfectly competitive market?
the economy Major of those four are the natural monopoly. geographic monopoly, govrnement monopoly. technological monopoly.
How does a monopoly violate the consumer's right to choose?
by monopoly thebmanufacturers can fix any amount as price and poor consumers can't bear it.
A monopoly permitted by and regulated by the government for its greater social good such as a telephone company?
natural monopoly
Advantages and disadvantages of consumer behavior?
benefits of consumer behaviour
Is the market for duty free shopping a natural monopoly?
The market for duty-free shopping is not a natural monopoly. Duty-free shops sell products to travelers who take them out of the country. Natural monopoly only occurs if there is a high cost of starting a business in a particular industry.
How did railroads create a natural monopoly?
good job
