In most industries, deregulation has led to lower prices
a. True
b. False
Indicate whether the statement is true or false
True
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The above table shows the total product schedule for the campus book store. If employees are paid $6 per hour, assuming there are no other variable costs, then the average variable cost of selling books will reach its minimum at
A) 58 books sold per hour. B) 59 books sold per hour. C) 73 books sold per hour. D) 83 books sold per hour.
When drawn against the real interest rate, the output demand curve unambiguously shifts to the right if either or both of the following occur
A) an increase in current taxes and an increase in future taxes B) an increase in current taxes and a decrease in future taxes C) a decrease in current taxes and an increase in future taxes D) a decrease in current taxes and a decrease in future taxes
Why do economists consider perfect competition to be the most efficient market structure?
What will be an ideal response?
In practice, regulatory boards try to set the price of a natural monopoly so that price covers a normal return on capital investment. As a result:
A. there is an incentive to use more equipment. B. the price of equipment should decrease. C. there is an incentive to use less equipment. D. the incentive to use equipment stays the same.