Author Question: If producers support proposed regulation of their industry, then a. it is likely that consumers ... (Read 115 times)

tichca · **on:** Jun 30, 2018

If producers support proposed regulation of their industry, then
a. it is likely that consumers will benefit from the regulation
b. it is likely that producers are looking out for the interests of the consumers
c. it is likely that both producers and consumers will be adversely affected by the legislation
d. it is possible that consumers will be adversely affected by the legislation
e. it is likely that prices will fall

Question 2

If a perfectly competitive firm is producing at a quantity at which MC < AVC, it cannot be maximizing profit in the short run.
a. True
b. False