Regulation of a natural monopoly that forces it to price and produce as if it were a competitive firm results in
A) the market being instantly competitive.
B) higher profits for the monopoly.
C) economic losses for the monopoly.
D) a highly unstable marketplace.
C
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In the figure above, at point A the consumer is willing to give up ________ pounds of pickles to get one additional pound of olives
A) 8 B) 6 C) 1 1/3 D) 2
Risk:
A. is inherent in every action or decision. B. exists whenever the consequences of a decision are uncertain. C. exists when outcomes are certain. D. is a good that can be purchased.
According to Say's law, there cannot be overproduction of goods and services because:
a. planned aggregate expenditures sometimes fall short of total output. b. prices and wages are "sticky" or inflexible in the downward direction. c. demand creates its own supply. d. supply creates its own demand.
Prices set too low can actually be against the public interest
a. True b. False Indicate whether the statement is true or false