Which of the following factors will help determine how the costs of social regulation are split between consumers and producers?
a. The price elasticities of demand and supply
b. The quantity produced by the firm
c. The average total costs of the firm before regulation
d. The number of consumers in the market
e. The number of producers in the market
a
You might also like to view...
Unlike firms that sell stock in financial markets, which are known as ________ firms, companies which do not sell stock in financial markets are known as ________ firms
A) public; private B) corporate; proprietary C) open; closed D) stock market; bond market
If price is $5, marginal cost is $5, average total cost is $3, and the quantity produced is 150 units, then the perfectly competitive firm is
A) not maximizing economic profit. B) earning $2 in economic profits and is maximizing economic profits. C) earning $150 in economic profits and is not maximizing economic profits. D) earning $300 in economic profits and is maximizing economic profits.