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MPC
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_ is the feature of monopoly and perfect competition are partially present.
_ is the major determinant of supply.
_ is the science of counting
_ market assumes absence of transport cost.
_ means government may take over monopolistic companies, which are exploiting the consumer
_ method of controlling monopoly is best to check the concentration of economic power in few hands.
_ method of monopoly can be applied in case of natural monopolies.
_ referred by ‘rent’ to the payment made for the use of agricultural land.
_ refers to all those natural resources or gifts of nature which are provided free to man.
_ utility is created due to transfer of ownership from one person to another person.
