14. Which of the following statements on natural monopoly in the electricity industry is correct? a. It is efficient to

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14. Which of the following statements on natural monopoly in the electricity industry is
correct?
a. It is efficient to have more than one set of transmission and distribution lines.
b. There are economies of scale in transmission and distribution.
c. The strongest case for natural monopoly in electricity is economies of scale in
a generation.
d. There is no longer a case that any of the stages – generation, transmission, or
distribution – is a natural monopoly.
19. Why might OPEC fail to monopolize the oil market?a. It is not able to prevent oil entry in the long run.b. Each member has an incentive to produce more than its quotac. The short-term high oil prices charged by OPEC stimulate more competitors in theoil market.d. All of the above20. Which one does not belong to the externalities contributed by oil?a. Emissions that pollute the environment.b. National securityc. Hydrocarbons that potentially contribute to climated. Mercury emission from burning oil to produce electricity.
19. Why might OPEC fail to monopolize the oil market?
a. It is not able to prevent oil entry in the long run.
b. Each member has an incentive to produce more than its quota
c. The short-term high oil prices charged by OPEC stimulate more competitors in the
oil market.
d. All of the above
20. Which one does not belong to the externalities contributed by oil?
a. Emissions that pollute the environment.
b. National security
c. Hydrocarbons that potentially contribute to climate
d. Mercury emission from burning oil to produce electricity.
24. Which one is a benefit of vertical integration of coal production and end-use for electricutilities?a. It increases transaction costs.b. It makes it easier for the regulator to determine the input of coal.c. It offers greater assurance of a dependable coal supply.d. It eliminates concerns about labor relations between coal suppliers and electricityutilities.
24. Which one is a benefit of vertical integration of coal production and end-use for electric
utilities?
a. It increases transaction costs.
b. It makes it easier for the regulator to determine the input of coal.
c. It offers greater assurance of a dependable coal supply.
d. It eliminates concerns about labor relations between coal suppliers and electricity
utilities.