5. Seager, Principles of Economics, pages 419-431, and chapter xxiv.
QUESTIONS ON THE REQUIRED READINGS
1. What is meant by Transportation Economics? (Ely, page 557.)
2. Explain clearly why public utilities are natural monopolies. (Seager, pages 419-426.)
3. What is the origin of the right to regulate public utilities in the public interest? (King, page 4.)
4. Why must municipal utilities be regulated or controlled? (King, pages 11-16.)
5. What is the relation of unregulated municipal utilities to bad politics? (King, pages 17-19.)
6. What are the legal duties of corporations controlling municipal utilities? (King, page 10.)
7. What forms may municipal ownership take? (Fetter, pages 461-462.)
8. How does uniformity of product favor monopoly? (Fetter, page 463.)