Prof Peate, So a monopoly firm is a price fixer. It isn't what the left fears about a monopoly; limited only by good will which greedy peopl
Prof Peate, So a monopoly firm is a price fixer. It isn't what the left fears about a monopoly; limited only by good will which greedy people don’t have much of. In reality there is always something in the market place that can sort of compete. Is there an economic term for the “sort of compete-ness”? Shouldn't that term be in the math for how easily other things can substitute? Time between haircuts competes somewhat with the cost of cheese burgers but what competes with a particular lithium polymer battery that only one company sells? There may be many sources of other batteries but those nearly double the cost of the charging circuit or something like that. Weighs more, less reliable, whatever. Politics steps in when the monopoly is of something for which the “sort-of-compete- ness” value is zero. And is something that people can't be without. Standard oil's monopoly product was certainly more essential than an email program which Microsoft was accused of cornering. There should also be a number associated with the essentialness. Water supply, mail service and police are claimed by the government to be infinitely essential as well as hard to substitute for. If there was an economics term for substitution-ability and essentialness, then it might be calculable what product would be subject to price-hostage taking. It may turn out that while sewers would be cheaper if government provided, police could be a service which would be cheaper if they were private and allowed to compete.
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sania malan commented
I had the best time at happy hour here recently, and I can’t recommend it enough. The atmosphere is inviting, with just the right level of buzz to make it exciting without being too much. The drink deals are fantastic—I had a refreshing sangria that was one of the best I’ve had in a while. My friend tried one of their signature cocktails, and they couldn’t stop raving about it. The food is just as impressive as the drinks, with a variety of appetizers that are perfect for sharing. We ordered a couple of plates, and everything was flavorful, fresh, and satisfying. The service was top-tier, with friendly and attentive staff who made the whole experience even better. Whether you’re planning a casual night out or just want to make your weekday feel special, this place is a must-visit. Check out their happy hour specials at https://the-ainsworth.com/hoboken-menu/happy-hour/. You’ll be planning your next visit before you even leave!