An industry whose total output can be increased without a change in long-run per-unit costs is a(n)

A Giffen good is a good for which an increase in the price

a. decreases the quantity supplied. b. increases the quantity supplied. c. decreases the quantity demanded. d. increases the quantity demanded.

Supporters of social regulation contend that:

A. The existence of natural monopoly requires a regulatory response from government B. There is a pressing need to eliminate price fixing in U.S. business C. Higher costs are the price that must be paid for a better society D. Benefits of public ownership of businesses are greater than the costs