Before deregulation of the telephone industry,
A. Cutthroat competition eliminated profits.
B. Telephone service prices were lower than after deregulation.
C. There were greater variety and quality of service than after deregulation.
D. The volume of long distance phone use was lower than after deregulation.
Answer: D
You might also like to view...
Use the following table for Country X to answer the next question. Column 1 of the table is the world-market price of a product, Column 2 is the quantity demanded domestically (Qdd), and Column 3 is the quantity supplied domestically (Qsd). Assume the small-country model is applicable.PriceQddQsd$5.002004004.002503503.003003002.003502501.00400200If Country X opens itself up to international trade and the world-market price of the product is $3, then Country X will
A. neither export nor import the product. B. import some units of the product. C. not produce the product. D. export some units of the product.
There is no relationship between the price level and which component of GDP?
A. C B. I C. G D. NX
Under rate-of-return regulation, natural monopolies must use
A) marginal cost pricing. B) average cost pricing. C) efficient pricing. D) monopoly pricing.
If you knew that the per-unit production cost was $8 and that the total cost of inputs was $1,000, then the number of units of output would be:
A. 75 B. 100 C. 125 D. 150