A public franchise is A) an exclusive right granted to a firm ...

[Lobcity]

A public franchise is
 
  A) an exclusive right granted to a firm to supply a good or service.
  B) a government issued license required to practice a profession.
  C) an exclusive right granted to an inventor of a product.
  D) a unique source of raw materials.

Question 2

In the above figure, the total consumer surplus at the efficient level of output is ________.
 
  A) 4.5 million
  B) 9.0 million
  C) 2.5 million
  D) 8.5 million

[1_Step_At_ATime]

Answer to Question 1

A

Answer to Question 2

A