During the antebellum period, rapid economic growth was accompanied by significant changes in public economics and policy-making

Globo Public Supply has $1,000,000 in assets. Its demand curve is: P = 206 - .20•Q and its total cost function is: TC = 20,000 + 6•Q where TC excludes the cost of capital. If Globo Public Supply is UNREGULATED, find Globo's optimal price

a. $206 b. $106 c. $56 d. $6 e. $3

Consider the market for medical doctors. Suppose the opportunity cost of going to medical school increases for many individuals. Suppose it generally takes about ten years to become a practicing doctor. Holding all else constant, in ten years the equilibrium quantity of doctors will

a. increase. b. decrease. c. not change. d. It is not possible to determine what will happen to the equilibrium quantity.