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due to the market inefficiencies created by , one of the roles of government is to limit their market power or even to eliminate them entirely

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Answer 1

Due to the market inefficiencies created by monopolies, one of the roles of government is to limit their market power or even to eliminate them entirely.

How are natural monopolies governed by the government?

In most instances of natural monopolies that the government permits, there are regulatory bodies in each area to act as the general public's watchdog. Usually, public commissions or state-run departments of public utilities are in charge of regulating utilities.

Why does the government typically control the costs, output, and caliber of products and services created by natural monopolies?

to guarantee lower pricing for customers than would be the case in the absence of regulation. The sole vendor in a market is a pure —-. the variation in a company's total revenue caused by a single unit change in the amount of output produced and sold.

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