Exhibit 26-40 Price MC ATC 20. Refer to Exhibit 26-4. With no regulation, the fi

Question

Exhibit 26-40 Price MC ATC 20. Refer to Exhibit 26-4. With no regulation, the firm would supply units of output. a. 21. Refer to Exhibit 26-4. What is the productive-efficient level of output? b, d. e. 22. Refer to Exhibit 26-4. The resource-allocative efficient level of output is a. b. Q e. 23. The type of merger most likely to reduce competition in an industry is a a. horizontal b. vertical c. conglomerate d. parallel merger 24. The public choice theory of regulation states that a regulatory agency makes decisions based on a. b. c. d. surveys of what the public believes is in the best interest. its own conception of what is in the public's best interest. how these decisions affect the well-being of the agency itself. how these decisions affect the economic profits of the regulated firms.

Explanation / Answer

20) Q1 because Monopoly produce at a point where MR=MC

21)Q5 productive efficient output is a output where ATC is min

22)Q4. Resource allocative efficiency is at a point where Price=MC

23)A. Horizontal merging is a merging of firms that are in the same business to avoid competition

24)A

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