One Argument for Having the Government Regulate Natural Monopolies Is

question 54

Multiple Choice

One argument for having the government regulate natural monopolies is that without regulation,

• A) these monopolies usually produce things that are potentially harmful to our health.
• B) these monopolies produce at a level where marginal benefit is greater than marginal cost.
• C) these monopolies produce at a level where marginal benefit is less than marginal cost.
• D) the industry would become competitive and there would be too many firms in the market to achieve efficiency.

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Definitions:

Unobtrusive

Not conspicuous or attracting attention; discreet and not easily noticed.

Durkheim

Reiterating, a sociologist who explored the complex relationship between individual actions and broader social forces, illustrating how societal norms and values influence behavior.

Ethnomethodology

The study and analysis of the ways in which people make sense of their social worlds, practices, and interactions, focusing on the everyday.

Macro-sociological

Related to or involving the analysis of large-scale social processes and structures.