ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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a.choose a correct answer
b.choose a second best answer and explain why

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During the next hour John can choose one of the following three activities: playing basketball, watching television, or reading
a book. The opportunity cost of reading a book
A. depends on how much the book cost when it was purchased.
B. depends on how much John enjoys the book.
C. is equal to the marginal benefit from reading the book.
D. is the value of playing basketball and the value of watching television.
E. is the value of playing basketball if John prefers that to watching television.
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Transcribed Image Text:During the next hour John can choose one of the following three activities: playing basketball, watching television, or reading a book. The opportunity cost of reading a book A. depends on how much the book cost when it was purchased. B. depends on how much John enjoys the book. C. is equal to the marginal benefit from reading the book. D. is the value of playing basketball and the value of watching television. E. is the value of playing basketball if John prefers that to watching television.
A monopolist under rate of return regulation has an incentive to
A. produce more than the efficient quantity of output.
B. maximize consumer surplus.
C. maximize shareholder profits
D. inflate costs.
E. charge a price equal to marginal cost.
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Transcribed Image Text:A monopolist under rate of return regulation has an incentive to A. produce more than the efficient quantity of output. B. maximize consumer surplus. C. maximize shareholder profits D. inflate costs. E. charge a price equal to marginal cost.
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