When regulated using rate of return regulation, who benefits from the practice of some natural monopolies to count sumptuous offices, free baseball tickets, golf excursions, and limousines as costs of production?
A) stockholders
B) managers of the monopoly
C) customers of the monopoly
D) regulators of the industry
E) None of the above answers is correct.
B
Economics
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According to Keynes, the "stickiness" of wage rates could best be explained by
A) short-term labor contracts. B) minimum wage laws. C) unions and long-term labor contracts. D) government interference.
Economics
Producing a differentiated product occurs in which of the following industries?
A) oligopoly, monopolistic competition, and perfect competition B) monopolistic competition and oligopoly C) monopolistic competition only D) oligopoly only
Economics