1G
Answered
One answer to the problem of natural monopoly is provision of the good by a government-owned and operated firm. Why is that option not used very often?
On Jul 23, 2024
We cannot necessarily expect more efficient production from a government firm. There is little personal incentive for managers of such a firm to cut costs or to manage in the interest of the general public rather than for their own professional and personal interests. Rational voter ignorance reduces the ability of voters to understand, monitor, and control the firm. There is no small group of shareholders to gain by taking control and increasing efficiency. Consumers often have good substitutes available for the government monopoly production, so their desires may not be served.
1G
Answered
Emmett has always wanted a sports car. He has finally graduated from college and is working at his first job. He realizes to make his dream come true, he needs to save up for a down payment and then work out how he will pay the monthly loan amount. Using goal-setting theory, give the direct and indirect effects of Emmett's scenario?
On May 24, 2024
Direct effects motivate and energize us, helping to achieve objectives. Indirect effects encourage us to use cognitive skills, such as planning and strategizing to attain goals. Direct effect of buying the sports car is owning it. Indirect effect would be how he will work out paying the monthly loan payment.