Many public utilities are permitted to operate as monopolies because they enjoy economies of large-scale production
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The highest fifth of all families receive approximately ____ of the distribution of annual money income among families
a. 5 percent b. 10 percent c. 25 percent d. 50 percent
Assume a price floor is imposed in the wheat market at the equilibrium price and that a price ceiling is imposed in the gasoline market at the equilibrium price. An increase in supply in both the wheat and gasoline markets will create: a. surpluses in both the wheat and gasoline markets
b. shortages in both the wheat and gasoline markets. c. a surplus in the wheat market and an increase the quantity of gasoline traded. d. a surplus in the wheat market and a shortage in the gasoline market.
If the central bank has discretion to make policy, it may create economic fluctuations that reflect the electoral calendar. This is called the political business cycle
a. True b. False Indicate whether the statement is true or false
If, at a low cost, you cannot prevent a person from benefiting from the consumption of a good you produced, the good is
A. excludable. B. nonexcludable. C. nonrival in consumption. D. rival in consumption.