The government has granted license of production of a particular commodity to one production unit leading to emergence of monopoly. Thought monopoly leads to concentration of power in few hands as per conventional belief, how in your opinion monopoly is good for us ?

The government has granted license of production of a particular commo

1.	The government has granted license of production of a particular commodity to one production unit leading to emergence of monopoly. Thought monopoly leads to concentration of power in few hands as per conventional belief, how in your opinion monopoly is good for us ?
Answer» <html><body><p></p>Solution :If monopoly emerges because of its competency to provide a better <a href="https://interviewquestions.tuteehub.com/tag/product-25523" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCT">PRODUCT</a>. <br/> If it is outcome of <a href="https://interviewquestions.tuteehub.com/tag/development-950177" style="font-weight:bold;" target="_blank" title="Click to know more about DEVELOPMENT">DEVELOPMENT</a> and resarch and <a href="https://interviewquestions.tuteehub.com/tag/uses-722152" style="font-weight:bold;" target="_blank" title="Click to know more about USES">USES</a> scarce resources efficiently.</body></html>