-In the above figure, if the market is competitive and unregulated, the price will be
Definitions:
Price-fixing Theory
The economic analysis concerning agreements between competitors to sell a product or service at a set price, limiting competition.
Public Ownership
Ownership of assets, enterprises, or resources by governmental organizations rather than individuals or private companies.
Natural Monopolies
Market situations where a single supplier is more efficient in serving the entire market due to high fixed costs and significant economies of scale, commonly seen in utilities.
U.S. Postal Service
A federal agency responsible for providing postal services in the United States, known for delivering mail and packages domestically and internationally.
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