Refer to Table 5.4. If outcomes 1 and 2 are equally likely at Job A, then in absolute value

If the price of bubble gum changed in the market from 1 cent to 1.5 cents and Joe's Market didn't change the price it charges for the bubble gum, this behavior is likely due to

A) discretionary policy. B) economic laziness. C) large menu costs. D) small menu costs.

The primary explanation for why a regulatory commission may protect the monopoly it is supposed to regulate is that the commission members

a. regularly receive gifts and bribes b. are incompetent c. are experts sympathetic to industry management d. work to increase industry competition e. are directly accountable to the public