The Diagram Below Shows Cost and Revenue Curves for a Natural

question 43

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

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Definitions:

Sand

Fine particles of rock and mineral matter, typically found on beaches, deserts, and riverbeds.

Paleozoic Era

That part of geologic time extending from roughly 541 million to 252 million years ago; divided into six periods: Cambrian (appearance of many new animal groups, the Cambrian radiation or Cambrian explosion); Ordovician (diversification of sea life); Silurian (appearance of jawed fishes, terrestrial plants, and air-breathing animals); Devonian (appearance of sharks and bony fishes); Carboniferous (great.

Silurian Period

A geologic time period that occurred roughly 443.8 to 419.2 million years ago, characterized by significant biological diversity and the early development of terrestrial ecosystems.

Ediacaran Period

The last (most recent) period of the Proterozoic eon, from 635 million to 541 million years ago; named for early animal fossils found in the Ediacara Hills in South Australia.