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Discuss some of the pros and cons of police discretion.
Public Utilities
Entities that provide essential services to the public, such as water, electricity, and natural gas, often under government regulation.
Natural Monopolies
Industries where a single firm can supply the entire market at a lower cost than if there were multiple firms, often due to high fixed costs.
Natural Monopoly
A market condition in which a single firm can supply a product or service to an entire market at a lower cost than what would be possible if there were multiple firms.
Economies Of Scale
The cost advantage that arises with increased output of a product, as fixed costs are spread out over more units of production.
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