What is a public franchise? Are all public franchises natural monopolies?
What will be an ideal response?
A public franchise is a firm which the government designates as the only legal provider of a good or service. It is doubtful that most public franchises are natural monopolies. If they were, they wouldn't need the government to restrict their competitors.
Economics
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Recessions are generally measured as a ________ in ________
A) rise; real GDP B) fall; real GDP C) rise; nominal GDP D) fall, nominal GDP
Economics
If the nation's capital stock increases so that workers become more productive, the
A) demand for labor will increase. B) supply of labor will increase. C) demand for labor will decrease. D) supply of labor will decrease.
Economics