Problem
a) Discuss the impact of competition in your own life as it relates to Matthew 25:14-30.
b) Discuss the economic factors that lead to the development of monopolies. Examples of monopolies include electric utilities, railroads, airlines, cable television, and sports leagues. Focus your answer on a specific industry.
c) Compare the efficiency of monopoly and perfect competition. Which is more efficient? Explain your reasoning and illustrate with a hypothetical example.