Some argue the best response to monopolies is no response at all because:
A. the creation of regulation may be too difficult.
B. political mishandling may make the situation even worse.
C. the regulation of monopolies may not be able to be managed effectively.
D. All of these statements are true.
D. All of these statements are true.
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An expected increase in the future price of automobiles will lead to
A) an outward shift in demand for automobiles today. B) a reduction in the demand for gasoline today. C) a movement down the demand schedule for automobiles. D) no predictable impact on today's demand for automobiles.
At an output of 64, MC = $31, ATC = $31, and MR = $32. At that output the firm is
A. maximizing its profits, but not operating at peak efficiency. B. maximizing its profits and operating at peak efficiency. C. operating at peak efficiency, but not maximizing its profits. D. neither operating at peak efficiency nor maximizing its profits.