Google
Saturday 
May 28, 2022 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
REGULATION: Government rules or laws that control the activities of businesses and consumers. The motivation for regulation is that businesses are inclined to do things that are harmful to the public--actions which need to be prevented or otherwise controlled. Regulation is essentially an extension of government's authority to protect one member of society from another. It tends to take one of two forms--(1) industry regulation that's intended to prevent firms from gaining and abusing excessive market control and (2) social regulation that seeks to protect consumers for problems caused by pollution, unsafe products, and the lack of information (market failure).

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

MONOPSONY AND EFFICIENCY: A monopsony firm generally produces less output and pays a lower price than would be the case for a perfectly competitive industry. In particular, the price charged by a monopsony is not equal to (in fact, lower than) the marginal revenue product. The equality between factor price and marginal revenue product is THE key indication that resources are allocated efficiently and that society's resources are being used to generate the highest possible level of satisfaction.

     See also | monopsony | efficiency | perfect competition | factor markets | monopoly | bilateral monopoly | price maker | efficiency | allocation | monopsony and efficiency | perfect competition |


Recommended Citation:

MONOPSONY AND EFFICIENCY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 28, 2022].


Search Again?

Back to the GLOSS*arama

INCREASING-COST INDUSTRY

A perfectly competitive industry with a positively-sloped long-run industry supply curve that results because expansion of the industry causes higher production cost and resource prices. An increasing-cost industry occurs because the entry of new firms, prompted by an increase in demand, causes the long-run average cost curve of each firm to shift upward, which increases the minimum efficient scale of production.

Complete Entry | Visit the WEB*pedia


APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for malfunctioning pocket calculators.
Your Complete Scope

This isn't me! What am I?

Natural gas has no odor. The smell is added artificially so that leaks can be detected.
"A pint of sweat saves a gallon of blood. "

-- General George Patton

ARIMA
Autoregressive Integrated Moving Average
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2022 AmosWEB*LLC
Send comments or questions to: WebMaster