Author Question: When people say, government officials act on the basis of the property rights which they perceive, ... (Read 24 times)

misspop · **on:** Jun 29, 2018

When people say, government officials act on the basis of the property rights which they perceive, they mean

A) government officials are inherently conservative.
B) government officials do not have to be concerned about information being scarce.
C) government officials make decisions based on the expected consequences to themselves.
D) government officials will ordinarily not confiscate property without due process of law.

Question 2

Refer to the table above. What is the total revenue when the monopolist charges a price of 6?

A) 1,550
B) 1,800
C) 2,150
D) 3,200