The high upfront cost of laying cable lines means it may be inefficient for multiple cable companies to exist in the market. Therefore, cable TV provision may be an example of a (an) _____________________. *

a. Bertrand equilibrium

b. natural monopoly

c. both a. and b.

2. Over time, the price of cable has trended _________________, while the quality of cable programs and services have _________________. *

a. upward, increased

b. downward, increased

c. upward, decreased