If a marginal cost pricing rule is imposed on the natural monopoly in the figure above, then the consumer surplus will be

Discrimination based on age, race, gender, or family status very likely increases as a result of rent ceilings

Indicate whether the statement is true or false

In a perfectly competitive industry, which of the following is true?

a. The competitive price is higher and quantity higher than the socially efficient point. b. The competitive price is higher and quantity lower than the socially efficient point. c. Since the industry is perfectly competitive, price and quantity are at the socially efficient levels. d. The competitive price is lower and quantity higher than the socially efficient point.