There are several types of market imperfections. Explain the natural monopoly problem, the different manifestations of this phenomenon, and its results.

Q1.

Five foreign students have just joined your class. They know very little about the US political system. Write a short essay describing our congressional system, its membership, its rights and responsibilities, its committee structure, and its relationship with the President. Be sure to note current issues discussed in the text.

 

Q2.

There are several types of market imperfections. Explain the natural monopoly problem, the different manifestations of this phenomenon, and its results.

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