Economic regulation occurs when
a. monopoly is the optimal market structure
b. the industry is highly competitive
c. the product is important to economic welfare
d. the government owns the assets of the industry
e. the product price, if left unregulated, would be too low
A
You might also like to view...
If a monopoly engages in first-degree price discrimination:
A) social surplus is maximized. B) consumer surplus is maximized. C) producer surplus is minimized. D) the deadweight loss is maximized.
Refer to Figure 11-1. Many countries in Africa strongly discouraged and prohibited foreign direct investment in the 1950s and 1960s. By doing so, these countries were essentially preventing a moment from
A) A to B. B) B to C. C) D to C. D) B to A.
Most of the U.S. national debt is owed to
a. insurance companies. b. foreign and international institutions. c. private investors. d. Federal Reserve banks and government agencies.
Mental accounting simplifies the decision-making process because it:
A. limits the calculation of trade-offs. B. eliminates prices from the decision-making process. C. values all purchases equally. D. only weighs benefits and not costs.