{"id":30135,"date":"2015-05-04T05:59:33","date_gmt":"2015-05-04T05:59:33","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=30135"},"modified":"2024-04-03T13:16:45","modified_gmt":"2024-04-03T07:46:45","slug":"is-monopoly-bad-for-economy","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/is-monopoly-bad-for-economy\/","title":{"rendered":"Is monopoly bad for economy ?"},"content":{"rendered":"

\"Is<\/a><\/p>\n

Is monopoly bad for the economy?
\nMonopoly is a single firm in the market where the number of buyers and large.
\nMonopoly exists due to the presence of copyrights and patents of their goods and services they provided? Now the question arises whether the monopoly is good or bad for the economy.
\nNo doubt, monopolist discriminate the consumer by changing higher prices of their product because they are the sole owner of these products and convert all the consumer surplus to producer surplus and create dead weight loss in the economy, and reduce social welfare, thus we considered monopolist as bad, but this is not true always, sometimes monopoly is good for the economy.
\nMonopolist charge price greater than marginal cost and earn profit but if they charge price equal to marginal cost as in perfect competition, there will be normal profits in the economy, but to boost economy growth and lead to the development, technological progress is also necessary and if the producer will not earn super profits then they will not indulge themselves in innovative production as they are costly, they wan’t take the risk of taking new technology to the market, thus there will be no technology progress in the economy and economy will remain underdeveloped,
\nThus we can say monopoly is not always bad for the economy.<\/p>\n

Click here for government certifications<\/a><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Is monopoly bad for the economy? Monopoly is a single firm in the market where the number of buyers and large. Monopoly exists due to the presence of copyrights and patents of their goods and services they provided? Now the question arises whether the monopoly is good or bad for the economy. No doubt, monopolist…<\/p>\n","protected":false},"author":398,"featured_media":30172,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1560],"tags":[3262,1366,1998,2118,2329,3579],"class_list":["post-30135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-arbit","tag-control","tag-economy","tag-monopoly","tag-prices","tag-profits","tag-prosucers"],"acf":[],"yoast_head":"\nIs monopoly bad for economy ? - Vskills Blog<\/title>\n<meta name=\"description\" content=\"monopoly and its discrimination. Apply for a Vskills certification now. 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