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| a combination of producers in the same industry under joint direction for the purpose of exerting monopoly power. |
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charging different costomers different rates for service of equil production cost.
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| laws that prohibit or linmit monpolistic practices |
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| a combination of firms in an industry to carry out a common purpose |
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| govt control of the prices charged and services provided by firms that produce goods that are vital to the publics well being |
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| an industry in wich the economics are so extencive that a single firm can supply the whole market more efficiantly then two or more firms could. |
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| public utility commission |
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| a regulatiory body whoes mombers are appionted by govt to set rates and services provided by public utility firms. |
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| the process of eliminating govt regulation and reducing the scope and power of regulatory bodies. |
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| a good or service that can be used by many at the same time without diminishing any one persons consumpion |
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| allowing the private sector to produce goods and services that once were provided by the govt |
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| benifits that accure to parties other than the producer and purchaser of the good or service |
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| goods that have a social value over and above their utility for the individual costomer. |
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| external economics or externam diseconomics |
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| costs of the production process that are not borne by the producer or by the purchaser of the product and are therefore not taken into concideration in production and consumption decisions |
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| internalized external costs |
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| the process of transforming external costs so that the producer and consumer of a good pay the full cost of its production |
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| command-and-control regulations |
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| a system of administrative or statutory rules that requires the meeting of certain standards of proformance |
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| a fee levied by the government on each unit of environmental pollutant eitted. |
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