34. What is the meaning of the phrase "dilemma of regulation"? O Natural monopolies are profitable but only if the government permits price discrimination; government regulation to restrict price discrimination reduces monopoly prices, but the regulation also reduces monopoly output. The normal profit price achieves allocative efficiency but may produce economic losses; the competitive price yields an economic profit but may not be allocatively efficient. O Natural monopolies achieve economies of scale but charge high prices when there is no government regulation; government regulation reduces prices but results in diseconomies of scale. O The competitive price achieves allocative efficiency but may produce economic losses; the normal profit price yields a normal profit but may not be allocatively efficient.

34. What is the meaning of the phrase "dilemma of regulation"? O Natural monopolies are profitable but only if the government permits price discrimination; government regulation to restrict price discrimination reduces monopoly prices, but the regulation also reduces monopoly output. The normal profit price achieves allocative efficiency but may produce economic losses; the competitive price yields an economic profit but may not be allocatively efficient. O Natural monopolies achieve economies of scale but charge high prices when there is no government regulation; government regulation reduces prices but results in diseconomies of scale. O The competitive price achieves allocative efficiency but may produce economic losses; the normal profit price yields a normal profit but may not be allocatively efficient.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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