In the pivotal Supreme Court decision Munn v Illinois (1877), the court held that
(a) natural monopolies were subject to government regulation.
(b) business in interstate commerce was subject to regulation.
(c) any business, whether or not a natural monopoly, or whether or not it was in interstate
commerce, may under certain circumstances be subject to regulation.
(d) only businesses chartered (licensed) by governments could be subjected to government regulation.
(c)
Economics
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If the tax on gasoline is increased, gas stations are most likely to pass most of this increase to the consumer if the demand is:
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