Dictionary of Arguments

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Mause I 162
Natural Monopolies/Competition/Neoclassics: For neoclassical theory, the prerequisite for perfect competition is that goods and factors can in principle (...) be divided. This is not a problem for homogeneous goods, e.g. salt, but it is impossible for e.g. machines.
If the objects under consideration become even larger, such as railway lines or motorways, there is usually only one (regional) supplier that is efficient. Then one speaks of "natural monopolies".
In order to prevent exploitation of the other side, the state can set prices for the natural monopolist.
Problem: However, since the marginal costs (below the average costs) are due to the subadditivity of the total costs, the monopolist suffers a deficit. See Subadditivity/Baumol.


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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution.
The note [Author1]Vs[Author2] or [Author]Vs[term] is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Neoclassical Economics
Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018


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