A natural monopoly exists in a situation in which ______.
A. competition decreases a good’s price
B. it is impossible to exclude someone from consumption of a good
C. competition in the provision of a good or service would raise costs and reduce efficiency
D. one supplier controls the entire supply of a good or service
C. competition in the provision of a good or service would raise costs and reduce efficiency
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Why are bureaucratic agencies, despite being part of the executive branch, more accountable to the legislative branch?
a. They must be approved by the legislature in order to be hired. b. They depend on the legislature for funding. c. The legislature must approve all new programs before they are instituted. d. It is the nature of the hierarchal system.
Suppose you are trying to explain political tolerance among people with two independent variables: years of school and age. The beta coefficient for years of school is -.75 and the beta coefficient for age is .40. Which independent variable is more useful in explaining political tolerance?
A. Age B. Years of school C. They are equally useful. D. It cannot be determined on the basis of this information.