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About Economic Concept of A Public Utility
This document summarizes an article from the journal Economica from 1933 about the economic concept of a public utility. The article argues that defining public utilities based on their monopoly status or providing necessities does not fully capture what distinguishes them. While public utilities are often legislated as monopolies, true monopoly requires exclusive control of a market, which many public utilities do not have. The article also notes that many other industries provide necessities but are not considered public utilities. It suggests a more developed theory is needed to fully understand pricing in industries with multiple, competing firms.
Detailed Information
| Author: | ['Karla'] |
|---|---|
| Publication Year: | 2018 |
| Pages: | 17 |
| Language: | English |
| Format: | |
| Price: | FREE |
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