Answer:
The government agency is providing basic and/or essential services that further deepen the interests of members of the public
Explanation:
The assertion that a firm with a monopoly power loses it freedom of contract is very true. Monopolies by its realities come with features that ultimately cater for the interests of the firm, instead of the consumers. One of these is charging an astronomical high price on a particular item of commodity, and not taking cognizance of the purchasing power of the public. A firm could to this, and ultimately get away because its the only delivering such services - the one with the enormous monopoly power. Here, there is no stiff competition among goods that may offer liberty of choices to ordinary consumers.
To mitigate these numerous power of monopolies, governmental body has been giving the power to regulate and maintain an oversight functions. They now determine the provisions of contracts. The main objective of government agency, thus, is to ensure a firm with a monopoly power considers the basic and essential interests of the members of the public - the end users. Here, members of the public are insulated from unnecesary exploitation by the monopolies.
Answer:
Has an opportunity cost
- Having a "lazy afternoon" VS Working an 8 hour shift VS
- Cooking dinner VS Eating out
- Reading you favorite book VS Catching up with an old friend
Explanation:
Opportunity costs refer to the extra costs or benefits lost associated with choosing one activity or investment over another alternative. In other words, every activity that you carry out includes the opportunity cost of not doing something else. No matter what we do, we could be doing something else.
Accumulated Balance is given by :
Here,
n = time period = 30×12 = 360.
P = principal price = $250.
Putting all given values in above equation, we get :
Hence, this is the required solution.
