Rent controls generally provide the tenants the most efficient housing choice in the long run and maximize economic welfare.?
Indicate whether the statement is true or false.
Ans: False
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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.
Which of the following is most likely a constant cost industry?
a. coal b. ice cream c. lumber d. oil
If a profit-maximizing monopolistic competitor earns positive economic profits in the short run: a. demand will become increasingly inelastic as new firms enter. b. the firm should increase its output as new firms enter
c. there must be barriers to entry into the industry. d. new firms will be attracted to the industry. e. both b. and d. are correct.
According to the above table, if the fourth and fifth largest firms in the industry merge, the four-firm concentration ratio in the industry will be
A. 84.1 percent. B. 69.0 percent. C. 35.8 percent. D. 82.5 percent.