Public Monopoly is welfare oriented. - Vidyadip

Question

Public Monopoly is welfare oriented.

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Answer

Yes, I agree with this statement.

Public Monopoly is solely owned, operated and controlled by the Government.
Government owned firm provide utility service. It does not aim at profit but welfare maximisation.
Utility services like the Railways, banks, water supply etc., if left to the private firms will lead to exploitation.
This is because such services have inelastic demand, so if it is left to private firm they will charge high prices.

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