Which of the following are options available to government when dealing with monopolies?
a. b, c, and e
b. nationalization
c. marginal cost pricing regulation
d. marginal revenue pricing regulation
e. breaking up the firm
A
Economics
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Which of the following should be held constant when calculating an income elasticity of demand?
a. the quantity of the good demanded b. the price of the good c. income d. All of the above should be held constant.
Economics
Assuming the market is in equilibrium in the graph shown with demand D and supply S1, total surplus is:
A. greater than total surplus when market is in equilibrium at D and S2.
B. less than total surplus when market is in equilibrium at D and S2.
C. the same as total surplus when market is in equilibrium at D and S2.
D. zero.
Economics