According to social interest theory, ________
A) price regulations are unconstitutional
B) regulation helps markets achieve efficiency
C) monopoly practices last forever
D) unregulated firms try to avoid creating deadweight loss
B
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If the government grants a patent to Firm A for the production of Good A, then the market for Good A will be: a. an oligopoly
b. a monopoly. c. perfectly competitive. d. a duopoly.
Suppose that your demand schedule for jeans is shown in the table below.
A) Your total utility from 5 pairs of jeans would be _____.
B) Your marginal utility for the fifth pair would be _____.
C) If the price of jeans were $10 a pair, your consumer surplus would be _____.
Figure 9-2
When an economy is experiencing the aggregate demand and supply conditions depicted in ,
a.
the actual rate of unemployment will exceed the natural rate of unemployment.
b.
buyers and sellers will have correctly anticipated the level of prices P1.
c.
the output y1 will not be sustainable in the future.
d.
all of the above are correct.
If the price level increases,
A) the buying power of your checking accounts rises with it. B) the economy tends to grow faster. C) there is no effect on buying power. D) the buying power of your checking account falls.