In the above figure, if this natural monopolist were regulated and allowed to earn a "fair" rate of return, it would sell the product at the price
A) A.
B) C.
C) B.
D) F.
B
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Starting from a balanced budget, which of the following would NOT cause a deficit?
A) A decrease in taxes B) An increase in spending of goods and services C) An increase in transfer payments D) A 50 percent increase in spending accompanied by a 40 percent increase in taxes E) None of the above.
The Industrial Revolution was centered in Great Britain, and the British
(a) tried to achieve a technological monopoly. (b) were willing to freely share industrial technology with their colonies but no other nations. (c) believed in free trade and the sale and export of technology to any nation that wanted to pay for it. (d) were willing to share their technology with other nations but not their colonies because they wished the colonies to specialize in the production of agriculture and raw materials for export to England.
The federal government placed an upper limit on human organ prices, which is called a
A. Price support. B. Price floor. C. Price ceiling. D. None of the choices are correct.
Which one of the following is an example of a normative statement?
A) Public school teachers are not paid enough. B) The average public school teacher earns less than the average truck driver. C) The average public school teacher earns more than the average truck driver. D) Students in smaller classes perform better on standardized tests.