Bank equity is also referred to as

If the regulator wanted to maximize the total surplus in a natural monopoly market, the regulator has the firm set its price equal to its

A) average fixed cost. B) average total cost. C) average variable cost. D) marginal cost.

In the medium run, a tax increase that causes a reduction in the budget deficit will

A) affect only the price level. B) not affect the price level but will alter the composition of output. C) not affect the level of output, but will affect the composition of output. D) affect both the level and composition of output.