In 2007, the National Collegiate Athletic Association put a moratorium on new Football Bowl Series (formerly Division IA) teams. This policy will
A) protect the producer surplus of existing football programs.
B) ensure that when entry occurs, producer surplus will not be zero.
C) ensure that when entry occurs, producer surplus will be positive.
D) ensure that consumer surplus is greater in the future.
Question 2
What is one reason existing firms might lobby the government to increase regulation in their industry?
A) It increases entry and exit costs, thereby reducing producer surplus to existing firms.
B) It increases entry and exit costs, thereby potentially increasing producer surplus to existing firms.
C) It increases entry and exit costs, but has no impact on producer surplus.
D) Firms cannot be trusted to treat their customers fairly and ethically.
Photochemical smog is produced by a complex series of reactions