In practice, placing a price control on a natural monopoly:
A. is easy and commonly practiced.
B. is difficult because of lack of information.
C. always creates the same outcome as public ownership of the industry.
D. is never a good idea.
B. is difficult because of lack of information.
Economics
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Refer to the scenario above. What is Wendy's opportunity cost of producing one earring?
A) 0.33 greeting cards B) 0.50 greeting cards C) 1 greeting card D) 2 greeting cards
Economics
Assuming that w and r are both positive, if the long-run expansion path is horizontal, then
A) MPK = 0. B) MRTS is a function of capital only. C) w = r. D) All of the above.
Economics