Who among the following is exercising their right to pollute?
A) The group of campers burning a fire in a designated fire pit at a state forest campsite
B) The Sunday morning churchgoer whose auto emits carcinogens from its exhaust pipe
C) The publicly-owned and federally-regulated coal-fired electric utility
D) All of the above.
E) None of the above.
D
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Refer to the graph. Consider asset D. We would expect arbitrage to:
A. increase the risk level of D.
B. increase the price of D.
C. lower the price of D.
D. increase both the expected return and risk level of D.
In a contestable market,
A. A few firms collude to achieve monopoly profits. B. Many firms compete, which drives prices down to minimum long-run average total cost. C. Entry occurs when prices rise above average total costs. D. A few firms use predatory prices to achieve market share.