Changes

'''6.''' Both firms will reduce output in this instance, as that is where their combined profits are maximized.

'''6.''' Both firms will reduce output in this instance, as that is where their combined profits are maximized.

:Nope, see model answers when available.  (Minus 1).

:Nope, see model answers when available.  (Minus 1). CORRECTED: Your answer is correct (due to a mistake in the ordering of the pairs, see model answer), but your reason is still wrong.  See model answers.--[[User:Aschlafly|Andy Schlafly]] 23:45, 17 November 2009 (EST)

'''7.''' Most government regulation in economic affairs is detrimental, with a few exceptions, which monopolies are not one of. Monopolists do charge higher prices, but current government regulation prevents them from worsening their products. A monopoly is usually the result of intensive and dedicated labor, and government breakup of them only takes the reward from the founders.

'''7.''' Most government regulation in economic affairs is detrimental, with a few exceptions, which monopolies are not one of. Monopolists do charge higher prices, but current government regulation prevents them from worsening their products. A monopoly is usually the result of intensive and dedicated labor, and government breakup of them only takes the reward from the founders.

:67/70.  Well done!--[[User:Aschlafly|Andy Schlafly]] 23:04, 15 November 2009 (EST)

:67/70.  Well done!--[[User:Aschlafly|Andy Schlafly]] 23:04, 15 November 2009 (EST)