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.
Answer:
The Environment Protection Agency (EPA) establish specific regulations and laws that businesses must adhere to in order to protect the environment.
One method of influencing the judiciary that is at the President's disposal is "the ability to appoint, with Senate<span> confirmation, all federal judges" The president cannot fire judges.</span>
Hey there!
<span>Which of the following best describes how humans most often depend on forests to meet our needs?
Answer: </span>
<span>We depend on them to provide the materials we need to build houses for shelter.
Hope this helps
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