A local cable company has its rates set at P = 15 by a regulatory commission. Its current output is 10,000 households and its costs are as follows: ATC = 17; AVC = 14; and MC = 15 . From this, we can tell that this is:
a. a fair price, and the firm earns a normal profit.
b. a fair price, and the firm earns an economic loss.
c. marginal cost pricing, and the firm earns a normal profit.
d. marginal cost pricing, and the firm earns an economic loss.
e. the same price that an unregulated monopolist would charge.
Question 2
Money market mutual funds:
a. offer higher rates of interest than bank checking accounts, but lack check-writing privileges.
b. offer higher rates of interest than bank checking accounts and also offer limited check-writing privileges.
c. usually pay lower rates of interest than bank checking accounts.
d. were originally developed and offered by banks to their customers.
e. usually do not offer any check-writing privileges.
An example of a two-component regulatory system in bacteria
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When the exhaust is rich, the output of a zirconia oxygen sensor is above 450 mV.
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