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It is important, in the first instance to address the issues around the type of monopoly being referred to. Depending on the type of the monopoly structure, the competition laws in effect and the type of good or service being produced by such a firm, then we can assess the extent and degree of government involvement. Government will only intervene when the market has failed and when the monopolistic practices are abusiev or exploting the consumers. It should be government prerrogative to protect its people. Governments can and if there is need or justification curb monopoly power. Government has a duty to observe the laws governing a monopoly and should there be a need, such lwas can be amended to attain some but not limited to the following results, (a) price controls and ceilings; (b) product quality controls; (c ) accessibility to the product; (d) relative information availability; (e) remove or reduce entry barriers to allow for perfect or imperfect competition. There are lots of monopolies that have faced serious challenges when the market was opened for new entrants, yes, governments need to curb monopoly power in suita ble instancec.
What else can I help you with?
Where does a natural monopoly occur?
A natural monopoly occurs in the fact that we need plants to produce oxygen. Plants are the only known species to produce oxygen and in turn, our by-product is carbon which the plants need. Therefore, the monopoly works both ways.
How do you build a house on iPod monopoly?
I need this too I can't figure it out can someone please help!
What goods and services do governments need to buy?
Government need to buy food for people in shelter and things they really need
Why do governments need demographic information?
why do government need demograhhic information i have the same question please help
Why does a free market economy need government intervention?
Although free market economies are mostly based on the free choices of the buyers and consumers, one reason government intervention is needed is to prevent the creation of monopolies. If a monopoly is a natural monopoly or a monopoly that doesn't seem to make too much profit, it can be left alone, but if a monopoly has significant power and makes too much profit, government must restrict its market powers. Otherwise, the monopoly could control prices and output with no restrictions at all. Also, sometimes government must set price ceilings or price floors in order to try to fix the problems of shortages and surpluses. By setting these price levels, the government helps bring the price and quantity back to equilibrium position, where the quantity demanded = quantity supplied.
What do you need for monopoly?
a game of monopoly
What role does the U.S. Constitution play in creating local governments?
it gives states power to create local governments
How much money do we need to play Monopoly?
To play Monopoly, you typically need around 1500 to start the game.
How much money do you need to play Monopoly?
To play Monopoly, you need to have enough money to start the game with 1,500 in total.
What was the dilemma parliament faced in trying to curb the power of the king?
They were gay and no one really cares about Socials you will never need it in your life-time
How much money do you need in Monopoly to start the game?
In Monopoly, each player starts with 1,500.
Why do you need the Three branches of federalism?
So that all the governments power doesn't remain just with the Congress or President. They need to be separated equally maintaining checks and balances.
How many ones do you need in monopoly altogether?
5
Why do you need governments?
You need governments for direction and it keeps us safe for reasons. If we didn't have governments there would be no law and an example that if there prices go up or down.
How much money do you need to start playing Monopoly?
To start playing Monopoly, you need to have enough money to buy the game, which typically costs around 20 to 30.
Why did early governments need religion?
It gave governments a way of life and a purpose.
Needs of consumer protection?
Consumers need protection against the following: unsafe and harmful products, unfair trade practices, false advertising, abuse of monopoly power and environmental pollution. Businesses use their power for private gain to the detriment of consumers, that's why they need protection.
