By On Mar 26, 2019 Free Resume
Governments play a vital role in market formation for products by imposing regulation and price controls. They can control entry and exit of firms into a market by setting up rules to function in the market. For example, the pharmaceutical industry has to contend with a roster of rules pertaining to research, production, and sale of drugs.
Perfect competition establishes an ideal framework for establishing a market. But that market is flawed and has a couple of disadvantages. The first one is the absence of innovation.
Many states charge filing fees for a business that incorporates in the state, whether the business operates there or not. A business that is incorporated in one state and is physically located or doing business in another state must register in the other state as well, which involves paying that states filing fees and taxes.
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