The figure above provides information about Light-U-Up Utilities, which is a natural monopoly that provides electricity. What is the area of deadweight loss when Light-U-Up is regulated and follows an average cost pricing rule?

Suppose a market with a Cournot structure has five firms and a market price elasticity of demand equal to -2. What is a Cournot firm's Lerner Index?

A) .1 B) .2 C) .5 D) 1

The M2 definition of the money supply is based on the concept that

a. M1 is a small number, and should be increased in size. b. many types of deposits can be used as both payments and stores of value. c. checking deposits are used for payments, and therefore, not part of M1. d. cash is not used for the majority of payments.