The figure above provides information about Light-U-Up Utilities, which is a natural monopoly that provides electricity. If Light-U-Up is unregulated, it will produce ________ and sell at a price of ________

There are two industries that emit sulfur dioxide. The government decides to use a cap-and-trade policy by issuing permits for pollution. If Harry's industry has a higher marginal cost of reducing sulfur dioxide than does Joe's industry, ________

A) the cap-and-trade policy will not make the amount of pollution efficient B) Joe's industry will sell permits to Harry's industry C) Harry's industry will sell permits to Joe's industry D) Harry's industry and Joe's industry will emit the same quantity of sulfur dioxide

High-powered money is

A) total deposits received by banks within the system. B) reserves held by banks to meet withdrawals. C) deposits divided by the reserve holding ratio. D) the reserve holding ratio divided by the level of deposits.