The Diagram Below Shows Cost and Revenue Curves for a Natural

question 108

Multiple Choice

The diagram below shows cost and revenue curves for a natural monopoly producing electricity. Price is dollars per kilowatt hour and quantity is kilowatt hours per day. FIGURE 12- 7
-Refer to Figure 12- 7. Suppose this firm is being regulated using a policy of marginal- cost pricing. In this case, economic profits are equal to

• A) $90 000.
• B) - $28 000.
• C) - $15 000.
• D) $0.
• E) - $50 000.

Discuss the role of sociology in addressing environmental and social challenges.

Define technological determinism and its role in shaping society.

Critically assess arguments regarding technology as a potentially uncontrolled force.

Demonstrate the ability to construct and critically assess arguments pertaining to technology and society.

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