62: Monopoly And Pubic Policy Flashcards

1
Q

public ownership

A

for a natural Monopoly, the good is supplied by the government or by a firm owned by the government, thereby protecting the consumers interests by setting prices without maximizing profits

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2
Q

price regulation

A

limits on the price monopolists are allowed to charge

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3
Q

what do monopolists do to surplus?

A

reduce total surplus

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