Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This question should be easy. ---- In our Monopoly audio visual lecture, we learned that Great Britian had many government-run monopolies from the late 1940's

This question should be easy. ---- In our Monopoly audio visual lecture, we learned that Great Britian had many government-run monopolies from the late 1940's through 1979 because the voters fell in love with "economic socialism" after World War II. The British government ran one airline company, one telephone company, one electric company, etc... The British people were simply charged higher and higher taxes to keep these organizations afloat, and the government regulators who ran these firms often made choices based on political not economic considerations. Conclusion: Breaking up the British government-run monopolies during the 1980's to allow for competition was a key factor that eventually reduced prices, increased efficiency, created more choices, and provided the British citizens with better service. Group startsTrue or False

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: Michael Parkin

12th edition

133872297, 133872293, 978-1292094632

More Books

Students also viewed these Economics questions