How much will a car, which currently sells for $30,000, cost in 10 years if the inflation rate is 5% per year, and car makers are able to increase prices with the inflation rate (rounded to nearest dollar)

Based on Figure 3.2, it can be inferred that:

A) Alvin does not consider good X as "good." B) Alvin will never purchase any of good Y. C) Alvin regards good X and good Y as perfect substitutes. D) Alvin regards good X and good Y as perfect complements. E) none of the above

Without any regulation, the natural monopolist will

A) not produce any output. B) produce to the point at which P = ATC. C) produce less output than it would if the industry was purely competitive. D) have an upward-shifting average cost curve.