Question

According to the article "Financial Woes Heating Up," California utilities

		Control the production of electricity but not the distribution.
		Experienced rising wholesale prices for electricity while retail rates were subject to a price ceiling.
		Were taken over by the state due to bankruptcies.
		Experienced excess capacity and falling retail prices

As of 2010, to be in the bottom quintile for income distribution in the United States, a family needed in income no more than

		$21,000.
		$15,000.
		$27,000.
		$35,000.

According to the In the News article titled "Free Agents in Sports: A Threat to Monopsony," all of the following statements about reserve clauses and free agency in sports are true  except

		In 1976 baseball players won the right to become free agents-to negotiate and play for any team-after six years of major league experience.
		The reserve clause stated that individual players were permitted to negotiate with only one team, and they couldn't move to another team without their owner's permission.
		Reserve clauses increased competing wage offers and conferred monopsony power on players.
		Players' right to become free agents has weakened the monopsonistic power of teams and has led to dramatically higher player salaries.

Answer 1

1.Option C were taken over by state due to bankruptcies.

Due to shortage of funds and bankruptcy government intervened and took over California utilities in the best interest of people.

2.Option A $21000

3.Option C Reserve clauses increased competing wage offers and conferred monopsony power on players.

Because reserve clauses competed limiting wage offers they conferred monopsony power of owners. This kept athletes wages below Competitive Equilibrium. Free agencies changed that.