A consequence of a publicly owned natural monopoly is:
A. the loss of the profit motive.
B. an increase in the motivation to improve efficiency.
C. increased public pressure to reduce costs.
D. reduced chance to remain open longer than political terms of office.
A. the loss of the profit motive.
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Fogel's work (1964) on the economic impact of railroads is mostly written in response to
(a) Rostow's takeoff theory. (b) Schumpeter's theory of railroads building ahead of demand. (c) David's theory of path dependency. (d) Engerman's theory of multiroute analysis.
The purchase of rice produced this period is included in GDP if the rice is
a. used in a meal a restaurant sells during the same period they buy the rice. b. purchased by a family who uses it to make tuna casserole for its supper. c. purchased by a frozen food company to increase its inventory. d. B and C are correct.