Multiple Choice
Assume a firm is a monopoly and enjoys $10 million in profits per year. The firm lobbies to have a moratorium passed by Congress on new firms in its market for the next 25 years. If there is no discount rate, how much would any firm(s) arguing against the moratorium be willing to spend to block it?
A) something less than $250 million
B) $250 million
C) $251 million
D) $250 billion
Correct Answer:
Verified
Correct Answer:
Verified
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