Certain legal provisions

Certain legal provisions - products or services. This...

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In modern times certain legal provisions create monopoly rights. These are in the form of copyright norms, patent norms, standardization, etc. leading to monopoly power. = Finally there are monopolies in the form of public utilities . Road construction, postal services , water supply, telecommunications, etc. are some of the examples. In the case of such services it is necessary to maintain a high quality and a uniformity of
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Unformatted text preview: products or services. This results in monopoly power. In all such cases monopoly form of the market becomes unavoidable. Though there are certain evils of the monopoly system these have to be suffered and tolerated. In absence of monopoly production and supply of these goods and services the society will be totally deprived of certain benefits....
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This note was uploaded on 11/26/2011 for the course EC ec 201 taught by Professor - during the Fall '10 term at Montgomery.

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