What Is a Reduction in the Number of Laws Affecting

question 183

Multiple Choice

What is a reduction in the number of laws affecting business activity called?

• A)Rule reduction
• B)Red tape elimination
• C)Privatization
• D)Nationalization
• E)Deregulation

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Definitions:

Profit-maximizing Price

The price level at which a company can sell its product to achieve the highest possible profit, based on costs, demand, and competition.

Ameritech

A telecommunications company that was one of the Regional Bell Operating Companies following the breakup of AT&T.

Marginal Cost

The incremental cost of fabricating one more unit of a product or service.

Profit-maximizing Quantity

The point of production where a company reaches its maximum profit, occurring when marginal revenue is equal to marginal cost.