Detroit,suffering from the Impacts of Continuing Population Loss,due to the Economy

question 8

Multiple Choice

Detroit,suffering from the impacts of continuing population loss,due to the economy has decided to ________ large areas of the city (about 40 square miles in all) ,in order to improve Detroit's economic future.

• A)Renovate
• B)Incorporate (into separate cities)
• C)Industrialize
• D)Abandon

---

Definitions:

Least Cost

Refers to the most cost-effective method of producing a given level of output without sacrificing quality.

Horizontal Market

A market that meets a specific need across multiple industries, rather than being confined to a particular sector.

Natural Monopoly

A type of monopoly that arises due to high fixed or start-up costs associated with the business, making it efficient for only one provider to serve the entire market.

Antitrust Law

Laws designed to promote competition and prevent monopolies by regulating corporate practices that restrict trade.