Asked by
Moises Garibay
on Nov 26, 2024
Verified
Where there is natural monopoly, government is most likely to implement
A) social regulation.
B) antitrust policy.
C) industrial regulation.
D) an externality containment policy.
Natural Monopoly
A market condition where a single firm can supply the entire market at a lower cost than any combination of two or more firms due to economies of scale.
Social Regulation
Government-imposed regulations aimed at improving health, safety, and the welfare of the public, covering issues like pollution and workplace safety.
Antitrust Policy
Regulations and laws designed to promote competition and prevent monopolies, protecting consumers from predatory business practices.
- Absorb the essential rules and criticisms of industrial regulation, particularly the basis for the regulation of natural monopolies.
- Gain insight into the principle of natural monopoly and how government policies regulate it.
Verified Answer
DA
Learning Objectives
- Absorb the essential rules and criticisms of industrial regulation, particularly the basis for the regulation of natural monopolies.
- Gain insight into the principle of natural monopoly and how government policies regulate it.