0
What else can I help you with?
How Indian railways as a monopoly?
it is a monopoly, and it's bad
What are the effects of an monopoly on a society?
Without monopoly society would flatline, where economic growth would slow to a stop and socio-economics would die. This is because in order to have a positively functioning society one must promote growth. Competition must exist in society in order for growth to occur and be more effective. Monopoly is the process by which a firm competes in a market sector with other firms in a fight for control toward a puremonopoly.
What does the monopoly surplus graph reveal about the market power and economic efficiency of a monopolistic firm?
The monopoly surplus graph shows that a monopolistic firm has market power, meaning it can set prices higher than in a competitive market. This leads to economic inefficiency because the firm produces less and charges higher prices, resulting in a deadweight loss for society.
Can a monopoly earn economic profits in the long run?
Yes
Can a monopoly earn economic profits in the short run?
yes it is
What prevents a pure monopoly from occurring?
Monopolies are usually bad for society so governments either nationalise them or regulate them.
How Indian railways as a monopoly?
it is a monopoly, and it's bad
How did the game monopoly get its name?
The board game 'Monopoly' is named after the economic concept of monopoly, the domination of a market by a single seller.How_did_Monopoly_get_its_name
What are the effects of an monopoly on a society?
Without monopoly society would flatline, where economic growth would slow to a stop and socio-economics would die. This is because in order to have a positively functioning society one must promote growth. Competition must exist in society in order for growth to occur and be more effective. Monopoly is the process by which a firm competes in a market sector with other firms in a fight for control toward a puremonopoly.
How did Andrew Carnegie impact society?
He created monopoly
What does the monopoly surplus graph reveal about the market power and economic efficiency of a monopolistic firm?
The monopoly surplus graph shows that a monopolistic firm has market power, meaning it can set prices higher than in a competitive market. This leads to economic inefficiency because the firm produces less and charges higher prices, resulting in a deadweight loss for society.
Can a monopoly earn economic profits in the long run?
Yes
Can a monopoly earn economic profits in the short run?
yes it is
Price discrimination is prima facie evidence of what economic condition?
monopoly
What was the monopoly game named after?
A monopoly is a business which has managed to become the sole source of some particular resource, product, or service, that no one else can provide. If there is a monopoly, there is no competition, which creates an economic problem since the purchaser is then at a great disadvantage and may be badly overcharged. The Monopoly board game reflects, in its own stylized way, this economic principle.
Is there a real location known as monopoly?
No. Monopoly is not a place, it's an economic term. It means that the entire market for a product is controlled by a single company.
What was the monopoly board game named after?
A monopoly is a business which has managed to become the sole source of some particular resource, product, or service, that no one else can provide. If there is a monopoly, there is no competition, which creates an economic problem since the purchaser is then at a great disadvantage and may be badly overcharged. The Monopoly board game reflects, in its own stylized way, this economic principle.
