In order to regulate a monopoly's price the government
A) needs to hire former executives from the monopoly.
B) should rely on industry experts for information.
C) needs accurate information on the monopoly's demand and cost curves.
D) needs to know the monopoly's supply curve.
C
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According to the U.S. National Safety Council, a person has a better chance of being killed in which of the following situations?
A) in an aircraft accident B) from being electrocuted C) while riding a bicycle D) while walking
In economics, the entrepreneur is the person who
a. acts as the go-between among different manufacturers. b. puts together land, labor, and capital and tries to make a profit. c. is a shrewd business executive who works as a consultant to other businesses to show them more profitable methods of operation. d. is a visiting diplomat from France.
Futures contracts differ from forward contracts in that
A) future contracts ensures you will receive a certain amount of foreign currency at a specified future date. B) future contracts bind you into your end of the deal. C) future contracts allow you to sell your contract on an organized futures exchange. D) future contracts are a disadvantage if your views about the future spot exchange rate are to change. E) futures contracts don't allow you to realize a profit of a loss right away.
Fred has always been known as "the rich kid." Strictly speaking, this must mean that ________
A) Fred has a lot of cash B) Fred's income is quite high C) Fred won the lottery before he was legally eligible D) Fred has a flashy wardrobe E) Fred has a lot of wealth