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In economics, a government-granted monopoly (also called a "de jure monopoly" or "regulated monopoly") is a form of coercive monopoly by which a government grants exclusive privilege to a private individual or firm to be the sole provider of a good or service; potential competitors are excluded from the market by law, regulation, or other mechanisms of government enforcement.
Natural monopoly: This type of monopoly occurs when a firm can efficiently supply the entire market due to economies of scale, where larger production leads to lower costs. For example, in some cases, utilities (such as those providing electricity or water) may operate as natural monopolies due to high infrastructure and distribution costs.
Contrary to this are efficiency arguments that antitrust legislation should be changed to primarily benefit consumers, and have no other purpose. Free market economist Milton Friedman states that he initially agreed with the underlying principles of antitrust laws (breaking up monopolies and oligopolies and promoting more competition), but that ...
In Germany, 2.9% of myocardial infarction cases can be attributed to road traffic noise, with the 1.5% of the population exposed to greater than 75 dB(A) accounting for 27.13% of that. In total, an estimated 800,023 Disability-adjusted life years are lost due in urban populations due to road traffic noise in the EU. [15]
Meanwhile, if new car prices rise, more U.S. consumers would likely turn to the used car market, which would drive up prices of second-hand vehicles, he added. "Bonanza" for foreign competitors
Consumer surplus is the difference between the value of a good to a consumer and the price the consumer must pay in the market to purchase it. [47] Price discrimination is not limited to monopolies. Market power is a company's ability to increase prices without losing all its customers.
S&P Global Mobility finds the average age of cars and trucks on the road hit 12.2 years in 2022, an all-time high. S&P says this is the fifth straight year the average vehicle age has risen.
Currently, Canada produces around 10% of cars sold in the US (approximately 225,000 units), with Mexico supplying close to 20%. Interestingly, the US actually produces more cars for Canadian ...