Question: please answer 1. and 2. . Explain why the existence of a protected monopoly and or a regulated oligopoly is the fault of government and
please answer 1. and 2.

. Explain why the existence of a protected monopoly and or a regulated oligopoly is the fault of government and not of the free market? What allows a firm to keep its monopoly position? What allows large firms to exist within an oligopolistic market structure and is government making the situation worse by reducing competition? 2. What is the practical relevance of knowing the consumer equilibrium condition and the producer equilibrium condition? How are they different and what explains the the law of diminishing marginal utility in consumption as compared to the law of diminishing returns in production
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
