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Why Is Monopolies Harmful And How Can Regulation Ameliorate These Harmful Effects?
Beginning of paper
Why Is Monopolies Harmful and How Can Regulation Ameliorate These Harmful
Why is monopoly ‘harmful? How can regulation ameliorate these harmful effects?
What problems confront the regulators?
In order to deduce that a monopoly is ‘harmful', there must be another market
system which is preferable to monopoly so as to offer greater benefits to t ....
Middle of paper
....y and output would be greater.
Consumers obviously benefit if this is the case since P=MC implies P=Marginal
utility so that consumers are maximising their total utility(Under monopoly P>MC
and therefore arguably, not the optimum).
In the long run under monopoly, supernormal profits persist. Under perfect
competition complete freedom of entry lead.... |
| Word count: 876 |
Page count: 4 |
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