One key purpose of economic regulation is
A) to force a firm to produce at the point at which marginal cost equals marginal revenue.
B) to control the quality of service provided by a monopolist.
C) to control the price that regulated enterprises are allowed to charge.
D) to focus on the impact of production on the environment and society, the working conditions under which goods and services are produced, and sometimes the physical attributes of goods.
C
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Two types of costs must be considered when selecting the optimal decision rule. They are _____ and _____
a. decision-making costs; external costs b. marginal costs; variable costs c. decision-making costs; political costs d. political costs; external costs
Many individuals without health insurance receive "free" care. What are the sources of most of the care they receive?
a. Public hospitals and clinics. b. Private, not-for-profit hospitals. c. Private, for-profit hospitals. d. Multi-specialty physicians' practices. e. Solo practitioners and their associates.