Creating these monopolies is a good public policy. This is because the policy promotes innovations, which are instrumental in economic development (Mankiw, 2011). Moreover, the policy creates equality of…
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A natural monopoly is a monopoly that experiences economies of scale along its intact range of production. Alternatively, a natural monopoly is the type of monopoly that experiences a decreasing average total cost (ATC).
In a monopolistic market, marginal revenue is always less than the price of goods. This is because monopolies have a downward slopping demand curve. In fact, at any given price and quantity combinations, a monopolist is required to reduce the prices of his commodities in order to sell an additional unit. This explains why a monopoly is a special market situation. Consequently, monopolies do not exhaust all available market opportunities.
Monopoly and perfect competitive markets represents the two extreme in a market environment. In my own opinion, perfect competitive model is better than monopolies. This preference is based on economic aspects and market sustainability. In a perfect competitive market, ultimate efficiency in the production and distribution of goods and services is achieved. Consequently, monopolies lack efficiency in their production and distribution of commodities. In a competitive market, producers and distributors of commodities are obliged to operate efficiently in order to remain relevant (Bade & Michael, 2002). For example in a perfect competition, producers reduce prices of their commodities in order to increase their competitiveness. This in turn reflects on the production process where producers are forced to improve efficiency. On the other hand, monopolies have no immediate threats that would force them to reduce their prices or improve the quality of their products. Thus, monopolistic market lacks efficiency. Lack of efficiency is mainly demonstrated through production and distribution of goods within a market. In an ideal case, a market is supposed to have a natural mechanism that balances the distribution of commodities against the available customers.
Perfect competitive markets allow the mobility of
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ideal approach for this research, as it serves as the same institution where the researcher conducts the study; as a result, the improved participant observation and intensive collection of data are available (Johnson & Onwuegbuzie, 2004).
The other approach is the quantitative
The average annual tuition (plus expenses) at a private nonprofit four-year college is about $35,000 and at a public four-year college is about $18,000 (The Average Cost of a U.S. College Education, 2010). Thus, grandma’s
ng is incomplete, b) where the writing is equivocal, c).where it’s established that the statement is not in fact true by reason of fraud, mistake or accident or d) when the legality of the contract is in question.
3. The buyer has rescinded his right to be refunded at the
Accordingly, the American Health Organization reported that people visiting the place as tourists are also affected by the disease, reporting 51 non-fatal cholera cases recently. The statistical report
The desired results of the planned function need to be clearly defined. The means of achieving the goals of events must be well outlined. At the same time, a close cooperation with the client is necessary so that the
The company manufactures and sale different musical instruments like Guitar, Drams, and Sacs phone etc. It known to all of us that modern day business is full of competitions. Sustainability is the main thing in this world. This study would give a fair guideline to company
This paper aims at analyzing the factors of purchasing and installing the security devices, the visitor access control system, and environmental variables that ensure proper security operation.
The definition of
tivity; appreciate the mechanical qualities of movement, and understand the procedures that control human body motions and factors that affect the acquisition of more skills. Biomechanics, on the other hand, is the scientific study of the living body mechanics (Wuest & Fisette).