Government-owned monopolies are less X-efficient than private monopolies and have less of an incentive to initiate and
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Question:
"Government-owned monopolies are less X-efficient than private monopolies and have less of an incentive to initiate and implement cost-saving innovations than their profit -driven private counterparts.
Discus this statement by referring to the current situation at Eskom.
Expert Answer:
In a public monopoly from an economic point of view there is only one seller in the market Whatever profit if any acquired through the operation of the public monopoly belongs to the seller in which c... View the full answer
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