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Economics Model Answers Nine - 2013 (view source)

Revision as of 13:56, May 14, 2013

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:But the opposing argument is that monopolies are very harmful to the economy.  Freedom does require some laws, such as laws against violent crimes.  Laws against anti-competitive conduct by monopolies make for a better economy.
 
:But the opposing argument is that monopolies are very harmful to the economy.  Freedom does require some laws, such as laws against violent crimes.  Laws against anti-competitive conduct by monopolies make for a better economy.
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:(student MY) I think the government should regulate monopolies. Competition is always better. than just one person/firm taking over and raising the prices sky high and not giving any one else a chance. Competition is better for the market. It allows trade/buying/selling to continue normally. Everyone fighting for the lowest prices, and best quality.
    
8. Does the "deadweight loss" equal the "consumer surplus"?  Explain the relationship.
 
8. Does the "deadweight loss" equal the "consumer surplus"?  Explain the relationship.
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