Elucidate how to maintain competition
Elucidate how to maintain competition?
Expert
1. Competition is the market mechanism that encourages producers and resource suppliers to respond to consumer sovereignty.
2. If producers (and/or resource suppliers) have monopoly power, the monopolist can charge higher-than-competitive prices and supplant consumer sovereignty with producer sovereignty (or economic rent).
3. If “natural monopoly” exists, government regulates price and service. (Natural monopoly exists when technology or economic realities make a monopoly more efficient than competition.)
3. Where competitive markets are more efficient, anti monopoly laws (Sherman Act of 1890; Clayton Act of 1913) are designed to regulate business behavior and promote competition.
Explain how women expanded production possibilities?
A grocery store chain is considering ways to improve the performance of the waiting lines at their checkout stands. A heavily trafficked checkout stand is monitored for 120 min. In that period, 60 customers have their groceries rung up, and depart from the store. The
Transaction costs to ultimate consumers are reduced if: (w) consumers travel long distances to buy directly from manufacturers quite than buying the goods at local retail stores. (x) intermediaries generate income while conveying goods from manufactur
Describe the Personal distribution of income?
I have a problem in economics on Exchange and Specialization. Please help me in getting the right answer from the following question. Sarah the wheat farmer would be most probable to trade for fruit from the Kathy's orchard if: (i) Sarah's opportunity
Write down the internal factors which influencing the capital structure?
While productive resources are utilized efficiently: (w) prices greatly exceed production costs for current outputs. (x) opportunity costs are at their minimums for all goods. (y) domestic production exceeds the value of foreign output. (z) the value
Illustrate the Risks involved with bonds?
Explain the impact of external costs and external benefits on resource allocation
18,76,764
1932050 Asked
3,689
Active Tutors
1445173
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!