| OCR Text |
Show 24 that, under be produced by pay at freely competitive system, goods a place desired as encourages democratic place as an can by consumers, entrepreneur lines of economic basis, owing to the free There may be efficient producing oligopoly of large Monopoly" 28 the freedom to enter the market or near Underlying industries in which monopoly, a 26Harold Co" Ibid, " IbId 0 29Ibid, 30Ibid. y p. 4250 firms in many justified might be socially desirable 030 one 1941L po 4240 com- such that 29 0 firm of the most In such In are on a may be the most some a case an industries products satisfy D. Koontz, Government Control of Business 27 28 may be monopoly for the market, where consumers' tastes vary and individualized Houghton-Mifflin large economic factors There may be others in which produce enough firms freely competitive system also be desirable in all fields of business some unit, will in such form and being lower cost coincident with size and the wastes of not efficient size could not A into at lowest cost seems to call for of facilities, competition may consumers 027 activity. petitive duplication bring goods 26 by at least cost; and that consumers will equality by equalizing However, production cost produce them than the cost necessary to no more such those who wanted most these tastes (Cambridge: |
