Cost-of-service regulation allows regulated companies to charge prices that
A) reflect the cost of regulating the industry, plus the marginal cost of the product.
B) allow monopoly profits to the producer.
C) reflect the actual average cost of providing the services to the customer.
D) are determined by competition in other geographic markets.
C
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Why do many people choose NOT to read the manuals included with their new computer?
A) They perceive that learning by doing decreases costs faster than learning by reading. B) They perceive that learning by doing is more enjoyable than learning by reading. C) They perceive that learning by reading is not sophisticated. D) They believe that the manuals are not accurate.
Newsgroup Markets
Visit one of the following newsgroups: (Newsgroups provide lists of messages on a particular topic. Google provides a searchable interface for these newsgroups.)
- rec.antiques.marketplace
- rec.audio.marketplace
- rec.music.makers.marketplace
Questions:
- Do participants in such lists receive gains from trade? How?
- Does the existence of internet newsgroups such as these allow some individuals to gain from trade that might not otherwise occur? Explain.
Which one of the following people would not be considered by the BLS a part of the labor force?
a. a steel worker who was laid off last week and is seeking work b. a steel worker who was laid off last year and is no longer seeking work c. a student who also works part-time d. a member of the U.S. Navy e. a retired college professor paid to teach a summer course
Equilibrium in the money market exists when the quantity demanded of money equals the quantity supplied of money
Indicate whether the statement is true or false