To be a natural monopoly, a firm must
a. control an essential natural resource input.
b. be very large.
c. have a continuously falling average cost curve as output rises.
d. have falling average costs over a substantial range of total market demand.
d
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Barriers to entry ________.
A. are characteristic of pure monopoly B. are typically the result of wrongdoing on the part of a firm C. usually result in perfect competition D. exist in economic theory but not in the real world
Which policy measure bans spinning?
A) Sarbanes-Oxley Act of 2002 B) Global Legal Settlement of 2002 C) Gramm-Leach-Bliley Act of 1999 D) Riegle-Neal Act of 1994
The fundamental economic problem is: a. poverty
b. unemployment. c. scarcity. d. inflation.
Which of the following items is included in U.S. GDP?
a. final goods and services that are purchased by the U.S. federal government b. intermediate goods that are produced in the U.S. but that are unsold at the end of the GDP accounting period c. goods and services produced by foreign citizens working in the U.S. d. All of the above are included in U.S. GDP.