Prior to the Deregulation of the Railroad Industry,there Was Little

question 79

Multiple Choice

Prior to the deregulation of the railroad industry,there was little incentive to invest in new technology or equipment.This is an example of

• A)The failure of deregulation.
• B)The inefficiencies of regulation
• C)Market failure.
• D)The failure of laissez faire.

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Definitions:

Sales Revenue

The income generated from the sale of goods or services before any costs or expenses are deducted.

Relevant Range

The scope of operations within which the assumptions regarding the behavior of variable and fixed costs hold true.

Cost Formula

An equation used to calculate the total cost of production that combines both fixed costs and variable costs.

Production Variation

Fluctuations in the quantity of goods produced, often due to changes in demand or production capacity.