Despite being a monopoly, The Railways still does NOT increase its prices. Explain
(6 marks)
Dear student,
It must be remembered that railways is a government owned unit. The basic objective of public sector units is the welfare of the public at large and not to earn profits.
Accordingly, railways does not increase its price to the exent that a monopoly could have increased.
It must be remembered that railways is a government owned unit. The basic objective of public sector units is the welfare of the public at large and not to earn profits.
Accordingly, railways does not increase its price to the exent that a monopoly could have increased.