Key Diagrams - Monopoly Profit with a Price Cap
Without government regulation, monopolies could put prices above the competitive equilibrium. This would lead to allocative inefficiency and a decline in consumer welfare. So a price cap aims to limit the price that a monopoly can charge. To be effective, a price cap needs to be set below the normal profit maximising price for a monopolist.
#monopoly #profit #pricecap
Видео Key Diagrams - Monopoly Profit with a Price Cap канала tutor2u
#monopoly #profit #pricecap
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