A likely consequence over time of an average-cost pricing policy for a natural monopoly is:
A. an increase in the average cost curve.
B. an increase in profits.
C. no change in price.
D. a decrease in the average cost curve.
Answer: A
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Between 1960 and 2010, the labor force participation rate for men
A) decreased in most years. B) increased in most years. C) did not change. D) fluctuated, first rising until about 1989 and after that, then falling. E) did not change until 1992, after which it generally increased.
Productivity per worker has increased in the past primarily through
a. hiring more teenagers. b. hiring more women. c. medical benefits. d. technological development.
A favorable supply shock abroad would
A. increase U.S. imports and decrease aggregate demand. B. decrease U.S. net exports and reduce aggregate supply. C. decrease U.S. net exports and decrease national income. D. increase U.S. net exports and increase aggregate demand.
If pizzas and quesadillas are substitutes and the price of pizzas decreases, we would expect to see:
A. an increase in the quantity demanded for quesadillas. B. a decrease in the demand for quesadillas. C. an increase in the demand for quesadillas. D. a decrease in the quantity demanded for quesadillas.