Refer to Figure 15-16. If the regulators of the natural monopoly allow the owners of the firm to break even on their investment the firm will produce an output of ________ and charge a price of ________

If a perfectly competitive firm's marginal revenue was less than its marginal cost, a. it would raise its price in order to increase its profits

b. it would contract its output but not raise its price in order to increase its profits. c. it is currently earning economic losses. d. both (a) and (c) are true.

The Clayton Act allowed board members of one corporation to sit on the board of a competing firm as long as inside information was not transmitted

Indicate whether the statement is true or false