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Author Question: Why is it that pure monopoly would not likely exist without government? What will be an ideal ... (Read 87 times)

mrsjacobs44

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on: Jun 29, 2018
Why is it that pure monopoly would not likely exist without government?
 
  What will be an ideal response?

Question 2

Compared to prices charged by Uber, traditional taxi companies charge government-regulated prices. These government-regulated prices ________ in the market for shared rides.
 
  A) decrease producer surplus B) decrease consumer surplus
  C) increase consumer surplus D) decrease deadweight loss


akudia

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Pure monopoly is only possible if a firm is granted an exclusive franchise or license to operate in a particular industry. Without this privilege it is much more likely that the firm will face competitors and entry into the industry.

Answer to Question 2

B


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