We can say that in a monopoly, the price is always higher than the socially optimal price
EXAMPLE: a pharmaceutical company brings out a new medicine for diabetes. It acquires a patent from the government for the production of that medicine implying that only that pharma company has the right to produce the medicine till the patent expires. This leads to a monopoly situation in the market. Now this pharma company can charge the highest price possible so that its profit is maximum since it is the sole producer of that medicine.
The organization of the Articles of the Constitution reveal the importance of the separation of powers in effective government and American democracy. The first three articles outline the functions and division of powers of the three branches of government. This is followed by an article on federalism which is also about division of powers between the federal government and states
The
buildings have been built to withstand heavy winds.
Verbs
are simply known as the ‘action’ words – may it be mental, physical or
mechanical. When verbs are paired with auxiliaries (helping verbs), they are
known as verb phrase. These helping verbs always go first before the actual
verb.
Perfect
tenses serves a portraying the verb or the action word as something that
already happened or is completed, thus the term ‘perfect’. If it is present
perfect tense, it means that the action was already done relatively to the
present (has/have with past participle). If it is past perfect tense, action is
already finished relatively to the past (had with past participle and if it is
future perfect tense, action is complete relatively to the future (will have
with past participle).
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Answer:
1.People spent less money on goods and services.
2.People lost their savings
3.Businesses close.
4.The stock market crashed.
<span>African-American and women had to compete with men returning from the war with jobs</span>
