Is a monopolist subject to any competitive pressures?, Ask an Expert

Economics

1-) Is a monopolist subject to any competitive pressures? Explain. Would an unregulated monopolist have an incentive to operate and produce efficiently? why or why not?

2-)Are the following statements both correct? Are they inconsistent with each other? Explain.
a. "Firms will hire a resource only if they can make money by doing so."

b. "In a market economy, each resource will tend to be paid according to its marginal product. Highly productive resources will command high prices, whereas less productive resources will command lower prices."

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9478314

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