Many economists agree that government rate setting for monopolies ______.
a. removes the influence of special interest groups
b. can become very political
c. is an objective approach
d. maximizes incentive for the firms
b. can become very political
Economics
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The price system works in an economy on a day-to-day basis to match the desires of consumers with the output from producers
Indicate whether the statement is true or false
Economics
Interlace, Inc produces and a unique soda. The company cannot price discriminate. The figure above shows Interlace's demand curve, marginal revenue curve, and marginal cost curve. When Interlace maximizes its profit, the deadweight loss is
A) zero. B) $15,000. C) $21,000. D) $3,000.
Economics