Monopolies are all round us, we sometimes just may not see them. Of
course we can read about the examples in the textbook and study the characteristics of the monopolist. But many of the services that your local and state government provides are monopolies (fire, police, MTA, etc.). We tend to perceive monopolists as inefficient since they charge too much and produce too little. In what sense can public sector monopolies be the best thing for society?
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