Economic regulation is government policy designed to a. improve ...

[Medesa]

Economic regulation is government policy designed to
 a. improve health and safety in products and in working conditions
  b. prevent firms from monopolizing or developing a cartel in existing competitive markets
  c. eliminate existing monopolies by breaking them apart into many smaller firms
  d. create monopolies by forcing competitive firms to merge
  e. control price and output in industries where monopoly is desirable

Question 2

Perfectly competitive firms that earn an economic profit in the short run choose the output that
 a. maximizes total revenue
  b. minimizes total cost
  c. maximizes the difference between total revenue and total cost
  d. maximizes the difference between total revenue and explicit cost
  e. maximizes the difference between total revenue and implicit cost

[jlaineee]

Answer to Question 1

E

Answer to Question 2

C

[Medesa]

Correct answers!

[jlaineee]

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