After the Civil War, the Southern manufacturing sector
a. declined along with the agricultural sector.
b. did not reach pre-War levels until the 20th century.
c. recovered much more quickly than the agricultural sector.
d. was slow to recover because of slow repairs to the South's transportation network.
c. recovered much more quickly than the agricultural sector.
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In the above figure, if the natural monopoly is regulated with an average cost pricing rule and the firm does not inflate its costs, then the firm will produce
A) 8 million units and set a price of $21 per unit. B) 12 million units and set a price of $18 per unit. C) 16 million units and set a price of $16 per unit. D) nothing unless the government provides subsidies to cover its losses.
A firm can reduce its expected legal costs by negotiating an advance pricing agreement (APA) with the IRS. However, filing an APA can expose the firm to considerable risk by giving the government access to its sensitive cost-related information. This is an example of the ________ that arise due to regulation.:
A. legal costs B. information asymmetries C. positive externalities D. opportunity costs