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Author Question: What is meant by the phrase, There is no such thing as a free lunch? What will be an ideal ... (Read 59 times)

mcmcdaniel

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on: Jun 29, 2018
What is meant by the phrase, There is no such thing as a free lunch?
 
  What will be an ideal response?

Question 2

The figure above provides information about Light-U-Up Utilities, which is a natural monopoly that provides electricity. If Light-U-Up is unregulated, it will produce ________ and sell at a price of ________.
 
  A) 200 kwh; 10 per kwh
  B) 200 kwh; 30 per kwh
  C) 300 kwh; 20 per kwh
  D) 400 kwh; 10 per kwh


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Christopher

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Markets are generally efficient, which implies that profit opportunities are eliminated quickly.

Answer to Question 2

B


mcmcdaniel

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

lkanara2

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Reply 3 on: Yesterday
Excellent

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