- 05/30/2019 at 1:55 pm #1032622EduGorillaKeymasterSelect Question Language :
In the following passage, some of the words have been left out, each of which is indicated by a number. Find the suitable word the options given against each number and fill up the blanks with appropriate words to make the paragraph meaningfully complete.
By choosing Jean Tirole for the 2014 Nobel Prize in economics, the Noble Committee tips its hat at regulation of economic activity. Tirole has made fundamental (21) to the branch of economics called Industrial organization, which (22) insights into regulation, apart from other things. (23) with degrees in engineering in 1981, Tirole was eminently (24) to display game theory to model the incentives of the government, the regulator and the regulated (25) under different conditions of information (26) to given a formal, unified basis for coherent regulation.
Newspapers are spared charges of predatory pricing, thanks to Tirole’s (27) of platform businesses, a case of what economists call two-sided markets. Low cover prices-TV channels are often free, as are search engine and social media platform – go hand in hand with higher advertising (28).So a business case (29) sustained pricing below the cost of production, rather than (30) desire to kill the competition. Along with long-time collaborator Jean-Jacques Laffont, Tirole has used formal analysis not only to validate intuitive judgments on optimal regulation but also to institute counter-intutitive insights.
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