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22-06-2021
Social Studies

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Give possible reasons for the poor performance of the monopolies

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22-06-2021

Answer:

1) Higher prices than in competitive markets Monopolies face inelastic demand and so can increase prices – giving consumers no alternative.
2) A decline in consumer surplus.
3) Monopolies have fewer incentives to be efficient.
4) Possible diseconomies of scale. Explanation:

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