Natural Monopoly and Its Regulation by Richard A. Posner PDF Free
Natural Monopoly and Its Regulation
by Richard A. Posner
- Publication Year
- 1999
- Language
- English
- Pages
- 130
- File Size
- 2.2 MB
- ISBN
- 9781882577811
Natural Monopoly and Its Regulation Summary
Natural monopolies exist in those markets in which demand can be satisfied at lowest cost by the output of only one rather than several competing firms. Under such conditions, conventional wisdom suggests that government regulation must substitute for competition to discipline the behavior of firms.
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