The chairman of the Board of Governors of the Federal Reserve System is appointed by the Senate and approved by the President

For a regulated natural monopoly, the marginal cost pricing rule is a rule that sets price ________ marginal cost and achieves an ________ amount of output

A) equal to; efficient B) above; inefficient C) below; efficient D) equal to; inefficient E) above; efficient

If the world supply of diamonds decreases, diamonds become more valuable, and therefore, the consumer surplus derived from diamonds increases

a. True b. False Indicate whether the statement is true or false