Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsMarket2 Marks
Question
In which circumstances can monopoly be beneficial ?
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Answer
Monopoly is useful as a means of welfare in certain public services or commodities are provided to the people by the government for welfare purpose rather than for profit. It is desirable to monopolize the production of arms for defense and also for its confidentiality. When there is price discrimination, monopoly becomes useful. From the view point of welfare. It is desirable that the Railway charges more fees from rich passengers and lower fees from poor passengers.
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