A natural monopoly is characterized by the fact that its average costs increase rather than decrease when its output expands
a. True
b. False
Indicate whether the statement is true or false
True
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If an asymmetry of information is removed and laborers' preferences change against employment, this will shift the equilibrium in the labor market to the
A. northwest. B. northeast. C. southwest. D. southeast.
When total revenue and price are inversely related, demand is
A) unit-elastic. B) inelastic. C) elastic. D) not related.
Human capital is defined as the:
A. amount of capital that is operated by workers in a firm. B. amount of capital that is operated by workers in an industry. C. amount of workers a firm employs. D. set of skills, knowledge, experience, and talent that determine the productivity of workers.
The President of which of the following district banks of the Fed is perpetually present on the Federal Open Market Committee?
a. The New York Fed b. The Seattle Fed c. The Boston Fed d. The Chicago Fed e. The Atlanta Fed