Asked by
Benjamin Reier
on Nov 25, 2024Verified
When the organization is a monopoly, discretion in key areas such as pricing, technology, and product changes cannot be limited by government regulation.
Government Regulation
Laws, rules, or directives established by governmental bodies designed to control and guide the behavior of individuals, industries, or organizations.
Monopoly
A market situation where a single company or entity exclusively controls the supply or trade of a particular good or service.
Discretion
The freedom or authority to make decisions and choices based on one's own judgment within the boundaries of their role.
- Understand the impact of government regulation on monopolistic organizations.
Verified Answer
GK
Learning Objectives
- Understand the impact of government regulation on monopolistic organizations.