Which is a likely consequence of having a pure (unregulated) monopoly in a market: a. it makes the monopoly firm strive to attain productive efficiency and reduce their inefficient practices (x-inefficiencies). b. it promotes entry of new firms since this is welcomed rather than resisted by the existing monopoly firm. c. it stops the process of dynamic efficiency (reduces technological advances that would lower per unit production costs). d. it results in restricted output, less output than what would occur with competition in the market.

Jose recently died with a probate estate of $900,000. he was predeceased by his wife, guadalupe, and his daughter, lucy. he has two surviving children, pete and fred. jose was also survived by eight grandchildren, pete’s three children, naomi, daniel, nick; fred’s three children, heather, chris and steve; and lucy’s two children, david and rachel. jose’s will states the following “i leave everything to my three children. if any of my children shall predecease me then i leave their share to their heirs, per stirpes.” which of the following statements is correct? (a) under jose’s will rachel will receive $150,000. (b) under jose’s will chris will receive $150,000. (c) under jose’s will nick will receive $100,000. (d) under jose’s will pete will receive $200,000.