Re:Appeals court upholds FCC's net neutrality order
by azernik on Wednesday June 15, 2016 @01:26AM
(#11907309)
This is not a moral judgment. It is simply the seller doing what is in their best interest, just like they would in a competitive market.
The difference is that in a competitive market, this self-interest happens to lead producers to do what is in the public interest, but in the monopoly case it generally leads to lower production and higher prices than would be optimal. For more explanation, here's a Wikipedia article that jibes with my college Intro to Econ class:
The difference is that in a competitive market, this self-interest happens to lead producers to do what is in the public interest, but in the monopoly case it generally leads to lower production and higher prices than would be optimal. For more explanation, here's a Wikipedia article that jibes with my college Intro to Econ class:
https://en.wikipedia.org/wiki/Monopoly_price