In the 1970s there was a long draught in California that left a ...

[ec501234]

In the 1970s there was a long draught in California that left a large section of Southern California parched.
 
  As water prices began to soar how do you think most residents changed their consumption of water? What kinds of water consumption probably did not change and why? Make sure to use utility in your explanation.

Question 2

The airline and trucking industries are two examples of industries that were regulated because they were natural monopolies.
 
  Indicate whether the statement is true or false

[mcomstock09]

Answer to Question 1

Most people probably either eliminated or reduced drastically the washing of cars, the watering of lawns and maybe even the filling of swimming pools. But the drought probably did not have much of an impact on internal consumption, bathing or the brushing of teeth. The items that were curtailed were no doubt those that provided the least amount of marginal utility.

Answer to Question 2

FALSE

[ec501234]

Thanks for the timely response, appreciate it

[bigcheese9]

Excellent