In many cities in the United States, a single firm provides electricity. Those firms are:
A. oligopolists.
B. monopolists.
C. monopolistic competitors.
D. perfect competitors.
Answer: B
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According to the Texas Transportation Institute, the typical U.S. commuter wastes approximately how much time per year due to traffic congestion?
A) 14 hours B) 22 hours C) 47 hours D) 96 hours
The table above shows the marginal costs and marginal benefits of college education. The marginal private benefit of college education at the efficient amount of enrollment is
A) $20,000 per year. B) $16,000 per year. C) $12,000 per year. D) $14,000 per year.
There is __________ problem with deposit insurance as the insurer shares disproportionately in the __________ risk of banking
A) an adverse selection; upside B) an adverse selection; downside C) a moral hazard; upside D) a moral hazard; downside
If there are both external benefits and external costs associated with the production and consumption of a good, and the external benefits are less than the external costs,
a. Taxing it could bring us closer to the efficient solution b. Subsidizing it could bring us closer to the efficient solution c. Neither a tax or a subsidy could bring us closer to the efficient solution d. None of the above is true.