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microeconomis - styler - 23/11/2006

Hi, i have a problem,.. im finding this essay question very difficult to answer:

Discuss the proposition that a monopoly that makes supernormal profits is acting against the public interest.

How do I go about tackling this question? What are the things that monopolies do which acts against public interest?

Please help. Thanking you in advance.

RE: microeconomis - Guest - 11/12/2006

Stifle competition, stifle free market, price fix, effective cartel, prevent other companies entering market through dubious means, possess political power (eg bribing government officials) that is not used for the people, but their own bottom line. I'm not an economics student, that's just off the top of my head. Don't know if it will help.

RE: microeconomis - Guest - 24/12/2006

hi can someone help me with my essau question dont no what to do!!.
discuss the propostion that a monopoly makes supernormal profits is acting againist the public interest????.....
if you could get back to me on my email.
thanks again............