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Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406

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BuyFindarrow_forward

Microeconomics

13th Edition
Roger A. Arnold
ISBN: 9781337617406
Textbook Problem

State one criticism of average cost pricing.

To determine

Explain one criticism of average cost pricing.

Explanation

The average cost pricing is also known as the profit regulation, in which the government sets the market price equal to the average total cost, where the natural monopoly earns zero economic profit. One of the criticisms of average cost pricing is that the natural monopoly is held at zero economic profit significantly and the firm is not allowed to reduce or increase its price above the market level price...

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