If ball-bearing producers support proposed regulation of their ...

[wenmo]

If ball-bearing producers support proposed regulation of their industry, then it is likely that
 a. ball-bearing prices will decrease under regulation
  b. profits of firms in the ball-bearing industry will decrease after regulation
  c. ball-bearing producers are concerned about the best interests of the public
  d. ball-bearing producers will not attempt to influence the adoption of the regulation
  e. consumers of ball-bearings will suffer from the proposed regulation

Question 2

Claude's Copper Clappers sells clappers for 60 each in a perfectly competitive market. At its present rate of output, Claude's marginal cost is 65, average variable cost is 25, and average total cost is 62 . To improve his profit/loss situation, Claude should
 a. increase output
  b. reduce output but not to zero
  c. maintain the present rate of output
  d. shut down
  e. raise the price

[Bigfoot1984]

Answer to Question 1

E

Answer to Question 2

B