Natural Monopoly and Its Regulation PDF (Adobe DRM) download by Richard Posner

Natural Monopoly and Its Regulation

Cato Institute
Publication date: April 1999
ISBN: 9781933995823
Digital Book format: PDF (Adobe DRM)

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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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