Monopoly Power also Government Regulation
1. Elucidate why might the existing industries in a cartelized industry prefer to be regulated by the government?
2. Illustrate what is the problem with common property resources?
3. "Public policy is necessary to protect the average citizen from the power of vested interest groups. In the absence of government intervention, regulated industries, such as airlines, railroads also trucking, would charge excessive prices. Products would be unsafe also the rich would oppress the poor. Government curbs the power of special interest groups." Comment saying elucidate why you agree or disagree with the accuracy of which statement?
4. In the "absence of unions, employers would be able to pay workers Illustrate whatever they wanted." Is it true or false Elucidate why?