Suppose There Is Only One Firm in a Region

question 47

Multiple Choice

Suppose there is only one firm in a region.That single firm is a natural monopoly,offers a risky work environment,no safety precautions,and low wages.That firm will

• A)never install any safety devices.
• B)install safety devices in exchange for reduced wages if the cost of providing the safety devices is less than or equal to the wage reduction agreed to by the workers.
• C)only install safety devices if ordered to do so by a regulatory agency.
• D)only install safety devices if a competing firm moves to the region.

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Definitions:

Regulating Behavior

Refers to the ways in which individuals control and direct their actions and responses in social and personal contexts.

Visualizing

The process of creating mental images or scenarios, often used in therapeutic settings to enhance positive thinking, planning, or problem solving.

Consequences

Outcomes or effects that follow from specific actions, behaviors, or decisions, potentially influencing future behavior.

Academic Performance

The extent to which a student, teacher or institution has achieved their short or long-term educational goals.