If a social planner were running a monopoly, that planner could achieve an efficient outcome by charging the price that is determined by the
a. minimum point on the average total cost curve.
b. intersection of the average total cost curve and the demand curve.
c. intersection of the marginal cost curve and the demand curve.
d. intersection of the marginal cost curve and the marginal revenue curve.
c
Economics
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The cost of the resources used by domestic producer groups including the lobbying fees, propaganda, and legal restrictions, is collectively referred to as the cost of:
a. enforcement and implementation. b. rent seeking. c. retaliation. d. collective action.
Economics
Congress passed and the president signed deficit reduction packages of over $400 billion in the years ______ and ______.
Fill in the blank(s) with the appropriate word(s).
Economics