The purpose of social regulation is
A) to force a firm to produce at the point where marginal cost equals marginal revenue.
B) to control the quality of service provided by a monopolist.
C) to control the price that regulated enterprises are allowed to charge.
D) to focus on the impact of production on the environment and society, the working conditions under which goods and services are produced, and sometimes the physical attributes of goods.
Question 2
The theory of monopolistic competition was developed in two separate models by
A) Adam Smith and David Ricardo.
B) John Kenneth Galbraith and John Maynard Keynes.
C) Edward Chamberlin and Joan Robinson.
D) Roger Leroy Miller and Paul Samuelson.
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