Question: Should governments or regulators always attempt to eliminate the supernormal
Should governments or regulators always attempt to eliminate the supernormal profits of monopolists/oligopolists?
Answer to relevant QuestionsCompare the relative merits of banning certain types of market structure with banning certain types of market behavior.If an industry regulator adopts an RPI – X formula for price regulation, is it desirable that the value of X should be adjusted as soon as cost conditions change?For what possible reasons may one country experiences a persistently faster rate of economic growth than another?Explain how the current account of the balance of payments is likely to vary with the course of the business cycle.What is meant by hysteresis when applied to unemployment? How do you account for this phenomenon in the 1980s?
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