A market structure characterized by a very few firms who behave interdependently is known as:

Rate of return regulation, as currently applied to many natural monopolies such as public utilities,

A) generally involves the use of price caps. B) gives the firms an incentive to inflate their costs. C) gives the firms an incentive to cut their costs as much as possible. D) generally keeps their prices higher than if they were unregulated monopolists.

Refer to Figure 4-1. What is the total amount that Kendra is willing to pay for 3 ice cream cones?

A) $2.50 B) $7.50 C) $9.00 D) $13.50