Local or state offices of the Department of Justice usually set prices for natural monopolies in their jurisdictions
Indicate whether the statement is true or false
FALSE
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Refer to the table above. What is the opportunity cost of commute per month to work if Ryan rents Apartment 2?
A) $20 B) $150 C) $200 D) $300
When there are economies of scale,
a. per-unit costs increase as output increases b. per-unit costs decrease as output increases c. per-unit costs are constant as output increases d. output does not affect per-unit costs
Pollution abatement is likely to be most costly under: a. a compliance standard
b. a per-unit pollution tax system. c. a system of transferable pollution rights. d. Costs are the same under all three pollution control policies.
Monopoly firms in contestable markets view the major threat to an exploitation of monopoly power to be
a. government regulation b. antitrust policy c. nationalization d. laissez-faire e. the competition from new entrants