A public franchise
A) is an unregulated monopoly necessary for the public good.
B) is a government designation that a private firm is the only legal producer of a good or service.
C) is a corporation that is owned by stockholders.
D) results from ownership of a key raw material.
B
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One reason why many low-income countries experience low rates of growth is because of poor public education and health
Indicate whether the statement is true or false
If bargaining is costless and an externality exists:
a. an efficient outcome may be reached depending on which party is assigned property rights. b. an efficient outcome will be reached regardless of which party is assigned property rights. c. an efficient outcome will not be reached without government intervention. d. an efficient outcome can never be reached.
The demand curve is downward-sloping because of the law of ____
a. diminishing marginal utility b. diminishing consumer equilibrium c. consumer equilibrium d. diminishing utility maximization
Vertical merger occurs when
A. the merger moves the combined firm onto the horizontal portion of its long-run average cost curve. B. two firms producing a similar product merge. C. two firms merge where each is about the same size. D. two firms merge where one had sold its output to the other as an input.