Read the news clip then answer the following question Michigan\'s oversight of c
ID: 1122171 • Letter: R
Question
Read the news clip then answer the following question Michigan's oversight of cable TV firms shuts off The Michigan regulators could have protected cable TV subscribers from risingMichigan's cable TV subscribers have had to live with soaring monopoly fees, and on January 1, 2016, they became even more vulnerable as funds that regulators had used for cable TV oversight were cut off fees by using Most likely the Michigan regulators did not do this because 0 A a perfectly competitive market O B. rate of return regulation or price cap regulation. O C. a rate of return regulation O D, a marginal cost pricing rule 0 E. rate of return regulation or price cap replaton. Source Detroit Free Press, December 31, 2015 the costs of this type of regulation are too high the cable TV firms have captured the regulator the regulators have captured the cable TV firms the cable TV firms have captured the regulator cable TV firms follow social interest theoryExplanation / Answer
Ans:
1) Option A
a perfectly competitive market, The cost of this type of regulation is too high.
A perfectly competitive market will lower the price but the Michigan regulators did not do this because the cost of this type of regulation is too high.
2) Option A
$1,000,000
Real GDP is a measure of the value of output and adjusted for price changes .However in the case real GDP is computed for 2012 and the base year is 2012.Hence the price will remain the same.
Real GDP = 10,000 * $100
= $1,000,000.
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