Which of the following would most likely be provided by a natural monopoly?
A) Michigan Radio is the state's most listened-to public radio service.
B) Sirius Satellite Radio is accessed through a subscription.
C) X96 is an alternative radio station out of Salt Lake City.
D) a Mariah Carey CD
B
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An import is any good that is:
A) produced and consumed domestically. B) priced through an auction mechanism. C) produced abroad, but sold domestically. D) rationed and licensed by the government.
Marking to market refers to
A) the determination of the prices of options contracts by the interaction of demand and supply. B) the determination of the prices of futures contracts by the interaction of demand and supply. C) the settlement of gains and losses on futures contracts each day. D) the settlement of gains and losses on forward contracts each day.
By subsidizing the provision of public education, the government
A) generates an increase in the quantity of educational services demanded. B) pushes the per-unit price that consumers pay for educational services below the market clearing price. C) pushes the per-unit price that producers of educational services receive above the market clearing price. D) All of the above
What will happen to the equilibrium quantity and price of salmon in a competitive market when there is an equal decrease in demand and supply?
A. Equilibrium quantity and price will both increase B. Equilibrium quantity and price will both decrease C. Equilibrium quantity will decrease and equilibrium price will stay the same D. Equilibrium quantity will stay the same and equilibrium price will increase