« previous next »

Author Question: Congressman Gallstone seeks support from his colleagues for a bill he sponsors that will establish a ... (Read 155 times)

lidoalex

  • Hero Member
  • *****
  • Posts: 538
on: Jun 29, 2018
Congressman Gallstone seeks support from his colleagues for a bill he sponsors that will establish a new national park in his district.
 
  He offers to support Congresswoman Disrail's proposal to build a new library in her district in exchange for her vote for his national park bill. This is an example of
  A) government failure. B) regulatory capture.
  C) rational ignorance. D) logrolling.

Question 2

Being the only seller in the market, the monopolist can choose any price and quantity it desires. Evaluate this statement: Is it true or false? Explain your answer.
 
  What will be an ideal response?
InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
Buy Test-Bank


mirabriestensky

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The statement is false. The monopolist cannot choose both the price and quantity. The monopolist has some market power and therefore has some ability to affect market price but it does not control the demand curve. If the monopolist sets a price, the quantity sold will be indicated by the demand curve.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Calcitonin is a naturally occurring hormone. In women who are at least 5 years beyond menopause, it slows bone loss and increases spinal bone density.

Did you know?

The Centers for Disease Control and Prevention (CDC) was originally known as the Communicable Disease Center, which was formed to fight malaria. It was originally headquartered in Atlanta, Georgia, since the Southern states faced the worst threat from malaria.

Did you know?

There are 20 feet of blood vessels in each square inch of human skin.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

The experiment of Plaxton and his colleagues demonstrated that plants can alter their metabolism in The experiment of Plaxton and his colleagues demonstrated that plants can alter their metabolism in
Traniello and his colleagues demonstrated that social insects may develop “social imm Traniello and his colleagues demonstrated that social insects may develop “social imm
Bill Nye Quote Bill Nye Quote
Chemical synthesis of a peptide on an insoluble polymer support Chemical synthesis of a peptide on an insoluble polymer support
Bill Viola, Room for St. John of the Cross. Bill Viola, Room for St. John of the Cross.
Berger and colleagues (2010) explored how newly-walking toddlers crossed different bridges. Berger and colleagues (2010) explored how newly-walking toddlers crossed different bridges.
Video: Cortisol (protein catabolism, gluconeogenesis, vasoconstriction & anti-inflammation)

For a complete list of videos, visit our video library